Purple Innovation Target of Unusually High Options Trading (NASDAQ:PRPL)

Purple Innovation, Inc. (NASDAQ:PRPL) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 4,468 call options on the stock. This is an increase of approximately 6,283% compared to the average daily volume of 70 call options.

Purple Innovation Price Performance

PRPL stock opened at $0.90 on Friday. The company has a fifty day moving average price of $0.95 and a 200-day moving average price of $0.95. The company has a market capitalization of $96.93 million, a P/E ratio of -0.90 and a beta of 2.37. Purple Innovation has a 52-week low of $0.65 and a 52-week high of $2.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30.

Purple Innovation (NASDAQ:PRPL) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.07. The firm had revenue of $128.98 million during the quarter, compared to the consensus estimate of $129.39 million. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. As a group, equities analysts expect that Purple Innovation will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Purple Innovation

Large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Purple Innovation by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,346,073 shares of the company’s stock worth $1,331,000 after buying an additional 16,033 shares during the period. Wasatch Advisors LP increased its position in shares of Purple Innovation by 25.0% during the third quarter. Wasatch Advisors LP now owns 2,800,109 shares of the company’s stock worth $2,768,000 after buying an additional 560,407 shares during the period. Barclays PLC increased its position in shares of Purple Innovation by 283.1% during the third quarter. Barclays PLC now owns 74,803 shares of the company’s stock worth $74,000 after buying an additional 55,275 shares during the period. Truist Financial Corp increased its position in shares of Purple Innovation by 32.4% during the fourth quarter. Truist Financial Corp now owns 629,032 shares of the company’s stock worth $491,000 after buying an additional 154,032 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Purple Innovation by 70.2% during the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock worth $28,000 after buying an additional 14,548 shares during the period. 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.