Purple Innovation (NASDAQ:PRPL) Upgraded to Hold at Wall Street Zen

Purple Innovation (NASDAQ:PRPL - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, Wedbush restated a "neutral" rating and set a $1.00 price target on shares of Purple Innovation in a report on Wednesday, March 26th.

Purple Innovation Price Performance

Shares of NASDAQ PRPL opened at $0.77 on Friday. The stock's 50-day moving average is $0.73 and its two-hundred day moving average is $0.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. Purple Innovation has a 1-year low of $0.56 and a 1-year high of $1.50. The company has a market cap of $83.23 million, a price-to-earnings ratio of -0.77 and a beta of 1.62.

Purple Innovation (NASDAQ:PRPL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The company had revenue of $104.17 million for the quarter, compared to the consensus estimate of $104.17 million. Analysts forecast that Purple Innovation will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of Purple Innovation by 70.2% in the 4th quarter. SG Americas Securities LLC now owns 35,272 shares of the company's stock valued at $28,000 after acquiring an additional 14,548 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Purple Innovation in the 1st quarter valued at about $28,000. Bank of America Corp DE increased its holdings in shares of Purple Innovation by 45.1% in the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company's stock valued at $44,000 after acquiring an additional 17,406 shares during the last quarter. Barclays PLC increased its holdings in shares of Purple Innovation by 14.5% in the 4th quarter. Barclays PLC now owns 85,627 shares of the company's stock valued at $67,000 after acquiring an additional 10,824 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of Purple Innovation in the 4th quarter valued at about $73,000. Hedge funds and other institutional investors own 88.41% of the company's stock.

About Purple Innovation

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.

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