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

Sleep Number Co. (NASDAQ:SNBR) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,740,000 shares, a decline of 20.3% from the September 15th total of 3,440,000 shares. Currently, 13.2% of the company’s stock are short sold. Based on an average daily volume of 484,100 shares, the days-to-cover ratio is presently 5.7 days.

Wall Street Analyst Weigh In

Several research firms recently commented on SNBR. Piper Sandler lifted their price objective on Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Sleep Number Price Performance

Shares of SNBR traded down $0.16 during trading hours on Friday, hitting $14.63. The stock had a trading volume of 283,372 shares, compared to its average volume of 516,861. The firm has a market capitalization of $326.63 million, a PE ratio of -9.63 and a beta of 2.06. Sleep Number has a 12 month low of $8.13 and a 12 month high of $22.36. The stock has a fifty day moving average price of $15.14 and a 200 day moving average price of $13.60.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $415.05 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, analysts anticipate that Sleep Number will post -0.13 EPS for the current fiscal year.

Insider Transactions at Sleep Number

In other news, Director Stephen E. Macadam bought 43,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $12.35 per share, for a total transaction of $531,050.00. Following the completion of the purchase, the director now owns 102,729 shares in the company, valued at approximately $1,268,703.15. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Trading of Sleep Number

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNBR. Quarry LP bought a new stake in shares of Sleep Number during the 2nd quarter valued at $43,000. GAMMA Investing LLC lifted its position in Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after purchasing an additional 3,027 shares in the last quarter. XTX Topco Ltd bought a new stake in Sleep Number during the second quarter valued at about $128,000. State Board of Administration of Florida Retirement System purchased a new stake in Sleep Number in the first quarter worth about $149,000. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Sleep Number by 6.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after buying an additional 1,100 shares during the period. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Company Profile

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.