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Purple Innovation Inc. (PRPL) Volatility At 10.43%, Should You Add A Position?

Purple Innovation Inc. (NASDAQ: PRPL) is -32.15% lower on its value in year-to-date trading and has touched a low of $2.65 and a high of $7.97 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PRPL stock was last observed hovering at around $3.26 in the last trading session, with the day’s loss setting it -0.01% off its average median price target of $6.75 for the next 12 months. It is also 59.38% off the consensus price target high of $8.00 offered by 9 analysts, but current levels are 9.72% higher than the price target low of $3.60 for the same period.

Currently trading at $3.25, the stock is -20.92% and -33.86% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.91 million and changing -0.31% at the moment leaves the stock -22.67% off its SMA200. PRPL registered -49.85% loss for a year compared to 6-month gain of 6.91%.

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The stock witnessed a -27.46% loss in the last 1 month and extending the period to 3 months gives it a -37.74%, and is -21.69% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.43% over the week and 6.71% over the month.

Purple Innovation Inc. (PRPL) has around 1800 employees, a market worth around $346.90M and $617.00M in sales. Profit margin for the company is -6.70%. Distance from 52-week low is 22.64% and -59.22% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.10%).

Purple Innovation Inc. (PRPL) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Purple Innovation Inc. (PRPL) is a “Overweight”. 9 analysts offering their recommendations for the stock have an average rating of 2.40, where 4 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Purple Innovation Inc. is expected to release its quarterly report on 05/15/2023.The EPS is expected to grow by 101.00% this year

Purple Innovation Inc. (PRPL) Top Institutional Holders

The shares outstanding are 105.23M, and float is at 103.56M with Short Float at 5.72%.

Purple Innovation Inc. (PRPL) Insider Activity

A total of 4 insider transactions have happened at Purple Innovation Inc. (PRPL) in the last six months, with sales accounting for 1 and purchases happening 3 times. The most recent transaction is an insider purchase by Coliseum Capital Management, L, the company’s Director. SEC filings show that Coliseum Capital Management, L bought 5,960,320 shares of the company’s common stock on Feb 13 at a price of $4.50 per share for a total of $26.82 million. Following the purchase, the insider now owns 46.81 million shares.

Purple Innovation Inc. disclosed in a document filed with the SEC on Sep 16 that McGarvey Casey Kale (Chief Legal Officer) bought a total of 30,000 shares of the company’s common stock. The trade occurred on Sep 16 and was made at $2.85 per share for $85500.0. Following the transaction, the insider now directly holds 78718.0 shares of the PRPL stock.

Still, SEC filings show that on Sep 07, DICAMILLO GARY T (Director) acquired 10,000 shares at an average price of $2.66 for $26600.0. The insider now directly holds 113,083 shares of Purple Innovation Inc. (PRPL).

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