Purple Innovation (NASDAQ:PRPL) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Purple Innovation (NASDAQ:PRPL - Get Free Report) announced its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.07, Zacks reports. Purple Innovation had a negative return on equity of 84.67% and a negative net margin of 21.34%. The company had revenue of $128.98 million during the quarter, compared to the consensus estimate of $129.39 million. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Stock Down 5.8 %

PRPL stock traded down $0.05 during mid-day trading on Monday, hitting $0.85. 1,510,443 shares of the company were exchanged, compared to its average volume of 494,980. The firm has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $0.95. The company has a market capitalization of $91.33 million, a PE ratio of -0.85 and a beta of 2.37. Purple Innovation has a twelve month low of $0.65 and a twelve month 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.

Hedge Funds Weigh In On Purple Innovation

A hedge fund recently raised its stake in Purple Innovation stock. Bank of America Corp DE lifted its position in Purple Innovation, Inc. (NASDAQ:PRPL - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,984 shares of the company's stock after acquiring an additional 17,406 shares during the quarter. Bank of America Corp DE owned 0.05% of Purple Innovation worth $44,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 88.41% of the company's stock.

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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.