Purple Innovation Inc (NASDAQ:PRPL) price on Friday, June 13, fall -4.14% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.71.
A look at the stock’s price movement, the close in the last trading session was $0.74. Turning to its 52-week performance, $1.50 and $0.56 were the 52-week high and 52-week low respectively. Overall, PRPL moved -13.86% over the past month.
Purple Innovation Inc’s market cap currently stands at around $77.02 million, with investors looking forward to this quarter’s earnings report slated for in July.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend PRPL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PRPL’s current price about -11.28% and -3.46% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.47, while 7-day volatility ratio is 2.84% and 2.91% in the 30-day chart. Further, Purple Innovation Inc (PRPL) has a beta value of 1.55, and an average true range (ATR) of 0.06. Analysts have given the company’s stock an average 52-week price target of $1.5, forecast between a low of $1.1 and high of $6. Looking at the price targets, the low is -54.93% off current price level while to achieve the yearly target high, price needs to move -745.07%. Nonetheless, investors will most likely welcome a -111.27% jump to $1.5 which is the analysts’ median price.
If we refocus on Purple Innovation Inc (NASDAQ:PRPL), historical trading data shows that trading volumes averaged 950.77K over the past 3 months. The company’s latest data on shares outstanding shows there are 107.95 million shares.
The 4.67% of Purple Innovation Inc’s shares are in the hands of company insiders while institutional holders own 69.81% of the company’s shares. Current price change has pushed the stock -8.90% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PRPL stock continues to rise going into the next quarter.
