Purple Innovation Inc [NASDAQ: PRPL] gained 12.13% or 0.08 points to close at $0.74 with a heavy trading volume of 6441394 shares.
The daily chart for PRPL points out that the company has recorded -16.68% loss over the past six months.
If we look at the average trading volume of 741.30K shares, PRPL reached to a volume of 6441394 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $1.12 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 2.33. 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 0.17. The Price to Book ratio for the last quarter was 3.96, with the Price to Cash per share for the same quarter was set at 0.27.
Trading performance analysis for PRPL stock
Purple Innovation Inc [PRPL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.39. With this latest performance, PRPL shares gained by 11.51% in over the last four-week period, additionally sinking by -16.68% over the last 6 months – not to mention a drop of -53.50% 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 57.18, with the RSI for the last a single of trading hit 63.94, and the three-weeks RSI is set at 52.54 for Purple Innovation Inc [PRPL]. The present Moving Average for the last 50 days of trading for this stock 0.7236, while it was recorded at 0.6767 for the last single week of trading, and 0.9411 for the last 200 days.
Purple Innovation Inc [PRPL]: A deeper dive into fundamental analysis
Purple Innovation Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.69 and a Current Ratio set at 1.25.
Purple Innovation Inc [PRPL]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRPL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Purple Innovation Inc go to 36.77%.
An analysis of Institutional ownership at Purple Innovation Inc [PRPL]
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 5.5137%.
