Purple Innovation (NASDAQ:PRPL – Get Free Report) released its 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 net margin of 26.97% and a negative return on equity of 62.31%. The company had revenue of $120.27 million during the quarter, compared to analyst estimates of $127.41 million. During the same period in the previous year, the firm posted ($0.20) EPS. Purple Innovation updated its FY 2024 guidance to EPS.
Purple Innovation Price Performance
Purple Innovation stock traded down $0.01 during mid-day trading on Wednesday, hitting $1.07. 150,390 shares of the company were exchanged, compared to its average volume of 650,500. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.50 and a quick ratio of 0.75. Purple Innovation has a 12-month low of $0.55 and a 12-month high of $3.24. The business’s 50 day simple moving average is $1.16 and its two-hundred day simple moving average is $1.39. The company has a market capitalization of $115.22 million, a P/E ratio of -0.81 and a beta of 2.03.
Insider Activity at Purple Innovation
In other news, CEO Robert Demartini bought 138,834 shares of Purple Innovation stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $1.03 per share, for a total transaction of $142,999.02. Following the acquisition, the chief executive officer now owns 663,669 shares in the company, valued at $683,579.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 54.30% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Report on Purple Innovation
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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