The stock of Purple Innovation Inc (PRPL) has gone down by -7.22% for the week, with a -8.16% drop in the past month and a 87.70% rise in the past quarter. The volatility ratio for the week is 9.89%, and the volatility levels for the past 30 days are 10.81% for PRPL. The simple moving average for the past 20 days is 5.42% for PRPL’s stock, with a 8.08% simple moving average for the past 200 days.
Is It Worth Investing in Purple Innovation Inc (NASDAQ: PRPL) Right Now?
Moreover, the 36-month beta value for PRPL is 1.93. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for PRPL is 99.50M and currently, short sellers hold a 5.83% of that float. On April 11, 2024, PRPL’s average trading volume was 908.00K shares.
PRPL) stock’s latest price update
The stock of Purple Innovation Inc (NASDAQ: PRPL) has decreased by -10.45 when compared to last closing price of 2.01.Despite this, the company has seen a loss of -7.22% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-26 that If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Purple Innovation (PRPL) could be a great choice. It is one of the several stocks that passed through our ‘Fast-Paced Momentum at a Bargain’ screen.
Analysts’ Opinion of PRPL
Many brokerage firms have already submitted their reports for PRPL stocks, with ROTH MKM repeating the rating for PRPL by listing it as a “Buy.” The predicted price for PRPL in the upcoming period, according to ROTH MKM is $2.50 based on the research report published on March 13, 2024 of the current year 2024.
Craig Hallum, on the other hand, stated in their research note that they expect to see PRPL reach a price target of $6, previously predicting the price at $4. The rating they have provided for PRPL stocks is “Buy” according to the report published on November 10th, 2022.
UBS gave a rating of “Neutral” to PRPL, setting the target price at $6.50 in the report published on March 02nd of the previous year.
PRPL Trading at 14.53% from the 50-Day Moving Average
After a stumble in the market that brought PRPL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.38% of loss for the given period.
Volatility was left at 10.81%, however, over the last 30 days, the volatility rate increased by 9.89%, as shares sank -11.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +74.76% upper at present.
During the last 5 trading sessions, PRPL fell by -7.22%, which changed the moving average for the period of 200-days by -30.50% in comparison to the 20-day moving average, which settled at $1.70. In addition, Purple Innovation Inc saw 74.76% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PRPL starting from Ulrich George Turner, who purchase 4,000 shares at the price of $1.52 back on Mar 22 ’24. After this action, Ulrich George Turner now owns 16,874 shares of Purple Innovation Inc, valued at $6,061 using the latest closing price.
DICAMILLO GARY T, the Director of Purple Innovation Inc, purchase 10,000 shares at $2.22 during a trade that took place back on Aug 28 ’23, which means that DICAMILLO GARY T is holding 158,478 shares at $22,182 based on the most recent closing price.
Stock Fundamentals for PRPL
Current profitability levels for the company are sitting at:
- -0.21 for the present operating margin
- 0.34 for the gross margin
The net margin for Purple Innovation Inc stands at -0.22. The total capital return value is set at -0.39. Equity return is now at value -78.50, with -27.95 for asset returns.
Based on Purple Innovation Inc (PRPL), the company’s capital structure generated 0.28 points at debt to capital in total, while cash flow to debt ratio is standing at -1.25. The debt to equity ratio resting at 0.38. The interest coverage ratio of the stock is -54.94.
Currently, EBITDA for the company is -81.73 million with net debt to EBITDA at -1.66. When we switch over and look at the enterprise to sales, we see a ratio of 0.62. The receivables turnover for the company is 13.65for trailing twelve months and the total asset turnover is 1.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.28.
Conclusion
To wrap up, the performance of Purple Innovation Inc (PRPL) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
