Purple Innovation Inc (NASDAQ:PRPL)’s stock price dropped 5.6% during trading on Wednesday . The stock traded as low as $22.79 and last traded at $22.93. Approximately 2,366,062 shares were traded during trading, an increase of 166% from the average daily volume of 890,992 shares. The stock had previously closed at $24.29.
Several research firms have issued reports on PRPL. BidaskClub upgraded Purple Innovation from a “hold” rating to a “buy” rating in a report on Tuesday. B. Riley upped their price objective on Purple Innovation from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 14th. KeyCorp boosted their target price on Purple Innovation from $22.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Raymond James reaffirmed a “buy” rating on shares of Purple Innovation in a research report on Wednesday, August 19th. Finally, Craig Hallum upped their price target on Purple Innovation from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.89.
The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.10 and a current ratio of 1.45. The firm’s 50 day simple moving average is $21.63 and its 200-day simple moving average is $15.10. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -186.85, a PEG ratio of 2.90 and a beta of 1.70.
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.
Read More: Why are gap-down stocks important?
Receive News & Ratings for Purple Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Purple Innovation and related companies with MarketBeat.com's FREE daily email newsletter.