Purple Innovation (NASDAQ:PRPL) Releases Earnings Results, Beats Expectations By $0.07 EPS

Purple Innovation (NASDAQ:PRPL) released its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.07, Zacks reports. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%.

Purple Innovation Trading Down 6.0 %

Shares of PRPL stock traded down $0.04 during trading on Thursday, hitting $0.66. 3,184,172 shares of the stock traded hands, compared to its average volume of 499,012. Purple Innovation has a 52-week low of $0.65 and a 52-week high of $2.12. The firm has a market capitalization of $71.47 million, a P/E ratio of -0.66 and a beta of 2.37. The firm’s fifty day moving average price is $0.95 and its 200-day moving average price is $0.96. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67.

Institutional Investors Weigh In On Purple Innovation

An institutional investor recently raised its position in Purple Innovation stock. Bank of America Corp DE lifted its holdings in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 45.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,984 shares of the company’s stock after purchasing an additional 17,406 shares during the quarter. 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. 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.