Purple Innovation (NASDAQ:PRPL – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02), Zacks reports. Purple Innovation had a negative return on equity of 62.31% and a negative net margin of 26.97%. The company had revenue of $120.27 million for the quarter, compared to analyst estimates of $127.41 million. During the same period in the prior year, the company earned ($0.20) EPS. Purple Innovation updated its FY 2024 guidance to EPS.
Purple Innovation Stock Down 0.9 %
Shares of PRPL traded down $0.01 during trading hours on Wednesday, reaching $1.07. 150,390 shares of the stock traded hands, compared to its average volume of 650,500. Purple Innovation has a 52 week low of $0.55 and a 52 week high of $3.24. The company has a market cap of $115.22 million, a price-to-earnings ratio of -0.81 and a beta of 2.03. The stock has a fifty day simple moving average of $1.16 and a 200 day simple moving average of $1.39. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 0.64.
Insiders Place Their Bets
In other news, CEO Robert Demartini purchased 51,061 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average price of $0.98 per share, for a total transaction of $50,039.78. Following the purchase, the chief executive officer now owns 514,730 shares of the company’s stock, valued at $504,435.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on PRPL
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.
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