Sleep Number Co. (NASDAQ:SNBR) Short Interest Update

Sleep Number Co. (NASDAQ:SNBR) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,080,000 shares, a growth of 35.1% from the June 30th total of 3,020,000 shares. Based on an average daily trading volume, of 520,600 shares, the days-to-cover ratio is currently 7.8 days. Currently, 19.6% of the company’s shares are sold short.

Sleep Number Stock Up 3.1 %

NASDAQ SNBR traded up $0.32 during trading hours on Friday, hitting $10.73. The company had a trading volume of 341,101 shares, compared to its average volume of 643,120. The firm’s 50 day moving average is $11.69 and its 200 day moving average is $12.78. Sleep Number has a fifty-two week low of $8.13 and a fifty-two week high of $39.65.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.44. The company had revenue of $470.45 million during the quarter, compared to analysts’ expectations of $475.17 million. Research analysts anticipate that Sleep Number will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNBR has been the subject of a number of research reports. Wedbush reissued a “neutral” rating and set a $13.50 price target on shares of Sleep Number in a research report on Thursday, April 25th. Piper Sandler boosted their target price on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, UBS Group raised their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, April 25th.

Hedge Funds Weigh In On Sleep Number

A number of institutional investors and hedge funds have recently bought and sold shares of SNBR. Boulder Hill Capital Management LP acquired a new position in shares of Sleep Number during the fourth quarter worth $758,000. Charles Schwab Investment Management Inc. lifted its holdings in Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock worth $11,896,000 after buying an additional 184,038 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its position in Sleep Number by 105.5% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after buying an additional 60,280 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Sleep Number by 37.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,433 shares of the company’s stock valued at $490,000 after acquiring an additional 8,779 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Sleep Number by 4.7% during the first quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company’s stock worth $2,755,000 after acquiring an additional 7,700 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

About Sleep Number

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 smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.