Traders Buy High Volume of Call Options on Purple Innovation (NASDAQ:PRPL)

Purple Innovation, Inc. (NASDAQ:PRPL) saw unusually large options trading on Friday. Traders bought 4,468 call options on the company. This represents an increase of 6,283% compared to the average volume of 70 call options.

Institutional Trading of Purple Innovation

A number of institutional investors have recently made changes to their positions in PRPL. SG Americas Securities LLC raised its stake in Purple Innovation by 70.2% in the 4th 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 during the last quarter. Bank of America Corp DE boosted its holdings in Purple Innovation by 45.1% in the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after buying an additional 17,406 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Purple Innovation in the 3rd quarter worth about $70,000. Barclays PLC boosted its holdings in shares of Purple Innovation by 283.1% during the 3rd quarter. Barclays PLC now owns 74,803 shares of the company’s stock worth $74,000 after purchasing an additional 55,275 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new position in shares of Purple Innovation during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 88.41% of the company’s stock.

Purple Innovation Trading Up 36.1 %

PRPL stock traded up $0.24 during midday trading on Friday, reaching $0.90. 14,606,451 shares of the company traded hands, compared to its average volume of 838,807. Purple Innovation has a 52-week low of $0.65 and a 52-week high of $2.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30. The business has a 50 day moving average of $0.95 and a 200-day moving average of $0.95. The firm has a market capitalization of $97.26 million, a price-to-earnings ratio of -0.91 and a beta of 2.37.

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

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.