Short Interest in Sleep Number Co. (NASDAQ:SNBR) Rises By 18.3%

Sleep Number Co. (NASDAQ:SNBRGet Rating) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,300,000 shares, a growth of 18.3% from the May 31st total of 2,790,000 shares. Currently, 15.6% of the company’s stock are sold short. Based on an average daily trading volume, of 612,700 shares, the short-interest ratio is presently 5.4 days.

Large investors have recently added to or reduced their stakes in the business. PRW Wealth Management LLC bought a new stake in Sleep Number in the fourth quarter valued at approximately $3,042,000. SG Americas Securities LLC raised its stake in Sleep Number by 206.4% in the fourth quarter. SG Americas Securities LLC now owns 22,472 shares of the company’s stock valued at $1,721,000 after buying an additional 15,138 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Sleep Number by 88.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,674 shares of the company’s stock valued at $1,584,000 after buying an additional 9,695 shares during the period. Gladius Capital Management LP bought a new position in shares of Sleep Number during the fourth quarter worth approximately $91,000. Finally, CNA Financial Corp increased its stake in shares of Sleep Number by 7.0% during the fourth quarter. CNA Financial Corp now owns 10,980 shares of the company’s stock worth $841,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Shares of NASDAQ SNBR opened at $31.15 on Tuesday. The stock has a 50 day moving average price of $39.59 and a 200 day moving average price of $56.40. The stock has a market capitalization of $692.46 million, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.82. Sleep Number has a 52 week low of $29.68 and a 52 week high of $116.00.

Sleep Number (NASDAQ:SNBRGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.24). The business had revenue of $527.13 million during the quarter, compared to the consensus estimate of $534.38 million. Sleep Number had a net margin of 4.16% and a negative return on equity of 20.53%. Sleep Number’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.51 EPS. As a group, sell-side analysts forecast that Sleep Number will post 5.04 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on SNBR shares. Bank of America reduced their price objective on Sleep Number from $55.00 to $45.00 and set an “underperform” rating for the company in a research report on Monday, April 18th. StockNews.com started coverage on Sleep Number in a research report on Thursday, March 31st. They set a “hold” rating for the company. Wedbush reduced their price target on Sleep Number from $80.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, March 28th. Finally, Piper Sandler reduced their price target on Sleep Number from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.00.

About Sleep Number (Get Rating)

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides adjustable bases under the FlextFit, and smart beds under the Sleep Number 360 brands.

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