Purple Innovation Inc (NASDAQ:PRPL)’s share price rose 6.2% during mid-day trading on Thursday . The stock traded as high as $7.85 and last traded at $7.51, approximately 434,002 shares traded hands during trading. An increase of 1,182% from the average daily volume of 33,843 shares. The stock had previously closed at $7.07.

PRPL has been the topic of several analyst reports. Roth Capital initiated coverage on shares of Purple Innovation in a research note on Monday, October 28th. They set a “buy” rating and a $10.00 price target on the stock. Wedbush boosted their target price on shares of Purple Innovation from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. ValuEngine downgraded shares of Purple Innovation from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Zacks Investment Research downgraded shares of Purple Innovation from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, TheStreet raised shares of Purple Innovation from a “d+” rating to a “c-” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

The company’s 50-day moving average price is $7.50 and its two-hundred day moving average price is $7.10. The company has a market cap of $429.56 million, a P/E ratio of -14.73 and a beta of -0.44. The company has a current ratio of 1.44, a quick ratio of 0.93 and a debt-to-equity ratio of 4.32.

Purple Innovation (NASDAQ:PRPL) last released its earnings results on Tuesday, August 13th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.45. The company had revenue of $103.00 million during the quarter, compared to the consensus estimate of $94.90 million. Purple Innovation had a negative net margin of 0.22% and a negative return on equity of 57,779.57%. As a group, analysts anticipate that Purple Innovation Inc will post 0.52 earnings per share for the current year.

In related news, Director Coliseum Capital Management, L bought 29,979 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $8.22 per share, with a total value of $246,427.38. Insiders bought a total of 263,026 shares of company stock valued at $2,082,224 in the last three months. Insiders own 78.80% of the company’s stock.

Several large investors have recently made changes to their positions in PRPL. Wells Fargo & Company MN grew its position in shares of Purple Innovation by 1,705.3% during the 2nd quarter. Wells Fargo & Company MN now owns 11,608 shares of the company’s stock valued at $78,000 after buying an additional 10,965 shares during the last quarter. Cpwm LLC grew its position in shares of Purple Innovation by 150.0% during the 2nd quarter. Cpwm LLC now owns 50,000 shares of the company’s stock valued at $338,000 after buying an additional 30,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Purple Innovation by 17.5% during the 2nd quarter. Vanguard Group Inc. now owns 52,910 shares of the company’s stock valued at $357,000 after buying an additional 7,879 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Purple Innovation during the 2nd quarter valued at about $567,000. 12.66% of the stock is owned by institutional investors and hedge funds.

Purple Innovation Company Profile (NASDAQ:PRPL)

Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations. The company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, and third-party online retailers.

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