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. Traders acquired 4,468 call options on the stock. This is an increase of 6,283% compared to the average daily volume of 70 call options.

Purple Innovation Trading Up 35.6 %

PRPL opened at $0.90 on Friday. Purple Innovation has a 1-year low of $0.65 and a 1-year high of $2.12. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 1.81. The company has a market cap of $96.93 million, a P/E ratio of -0.90 and a beta of 2.37. The company has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $0.95.

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

Institutional Investors Weigh In On Purple Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 acquiring an additional 14,548 shares in the last quarter. Bank of America Corp DE increased its position in shares of Purple Innovation by 45.1% during the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after acquiring an additional 17,406 shares in the last quarter. Barclays PLC increased its position in shares of Purple Innovation by 14.5% during the fourth quarter. Barclays PLC now owns 85,627 shares of the company’s stock worth $67,000 after acquiring an additional 10,824 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Purple Innovation during the third quarter worth about $70,000. Finally, Townsquare Capital LLC bought a new stake in shares of Purple Innovation during the fourth quarter worth about $73,000. 88.41% of the stock is owned by institutional investors.

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.