Purple Innovation (NASDAQ:PRPL) Announces Earnings Results, Beats Estimates By $0.07 EPS

Purple Innovation (NASDAQ:PRPL) announced its earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07, Zacks reports. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Trading Down 6.0 %

Purple Innovation stock traded down $0.04 during midday trading on Thursday, reaching $0.66. 4,096,042 shares of the stock traded hands, compared to its average volume of 499,012. The company has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $0.96. Purple Innovation has a 12-month low of $0.65 and a 12-month high of $2.12. The firm has a market cap of $71.47 million, a PE ratio of -0.66 and a beta of 2.37. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81.

Hedge Funds Weigh In On Purple Innovation

An institutional investor recently raised its position in Purple Innovation stock. Bank of America Corp DE raised its stake in Purple Innovation, Inc. (NASDAQ:PRPL) by 45.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,984 shares of the company’s stock after purchasing an additional 17,406 shares during the period. Bank of America Corp DE owned about 0.05% of Purple Innovation worth $44,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 88.41% of the stock is owned by institutional investors and hedge funds.

Purple Innovation Company Profile

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.