PRPL Stock Summary and Trading Ideas (Purple Innovation | NASDAQ:PRPL)

Purple Innovation Inc is a comfort innovation company. The company designs, manufactures and sells a range of comfort technology offerings, including mattresses, a pillow, cushions, sheets, bed platforms, and other products. It sells its products through online channels, traditional wholesale partners and third-party online retailers.

Purple Innovation trades on the NASDAQ stock market under the symbol PRPL.

As of May 22, 2024, PRPL stock price declined to $1.37 with 215,277 million shares trading.

PRPL has a beta of 1.86, meaning it tends to be more sensitive to market movements. PRPL has a correlation of 0.03 to the broad based SPY ETF.

PRPL has a market cap of $147.25 million. This is considered a Micro Cap stock.

Last quarter Purple Innovation reported $120 million in Revenue and -$.19 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.03.

In the last 3 years, PRPL stock traded as high as $29.89 and as low as $.55.

The top ETF exchange traded funds that PRPL belongs to (by Net Assets): VTI, IWM, VXF, IWN, SCHA.

PRPL has underperformed the market in the last year with a price return of -60.3% while the SPY ETF gained +28.5%. PRPL has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.2% and -18.5%, respectively, while the SPY returned +7.1% and +2.7%, respectively.

PRPL support price is $1.35 and resistance is $1.48 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PRPL stock will trade within this expected range on the day.