Purple Innovation Inc [NASDAQ: PRPL] stock went on a downward path that fall over -5.95% on Thursday, amounting to a one-week price decrease of less than -9.48%.
Over the last 12 months, PRPL stock dropped by -66.15%. The one-year Purple Innovation Inc stock forecast points to a potential upside of 71.67. The average equity rating for PRPL stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $71.47 million, with 107.52 million shares outstanding and 102.94 million shares in the current float. Compared to the average trading volume of 458.31K shares, PRPL stock reached a trading volume of 3691347 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Purple Innovation Inc [PRPL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRPL shares is $2.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRPL stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Purple Innovation Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 04, 2024. While these analysts kept the previous recommendation, ROTH MKM raised their target price from $2 to $2.50. The new note on the price target was released on March 13, 2024, representing the official price target for Purple Innovation Inc stock. Previously, the target price had yet another raise from $4 to $6, while Craig Hallum kept a Buy rating on PRPL stock. On March 02, 2022, analysts decreased their price target for PRPL shares from 10 to 6.50.
The Average True Range (ATR) for Purple Innovation Inc is set at 0.07, with the Price to Sales ratio for PRPL stock in the period of the last 12 months amounting to 0.14. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 0.22.
PRPL Stock Performance Analysis:
Purple Innovation Inc [PRPL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.48. With this latest performance, PRPL shares dropped by -34.95% in over the last four-week period, additionally sinking by -32.30% over the last 6 months – not to mention a drop of -66.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRPL stock in for the last two-week period is set at 22.98, with the RSI for the last a single of trading hit 14.99, and the three-weeks RSI is set at 29.64 for Purple Innovation Inc [PRPL]. The present Moving Average for the last 50 days of trading for this stock 0.9421, while it was recorded at 0.7011 for the last single week of trading, and 1.0164 for the last 200 days.
Insight into Purple Innovation Inc Fundamentals:
Purple Innovation Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.67 and a Current Ratio set at 1.30.
Purple Innovation Inc [PRPL] Institutonal Ownership Details
There are presently around $71.47%, or 74.77%% of PRPL stock, in the hands of institutional investors. The top three institutional holders of PRPL stocks are: COLISEUM CAPITAL MANAGEMENT, LLC with ownership of 46.86 million shares, which is approximately 43.5908%. NO STREET GP LP, holding 7.74 million shares of the stock with an approximate value of $$8.05 million in PRPL stocks shares; and NO STREET GP LP, currently with $$6.16 million in PRPL stock with ownership which is approximately 5.59%.
