Sleep Number (NASDAQ:SNBR) Stock Price Down 3.3% – Here’s What Happened

Sleep Number Corporation (NASDAQ:SNBR) shares were down 3.3% during trading on Monday . The company traded as low as $7.87 and last traded at $8.18. Approximately 837,468 shares traded hands during trading, a decline of 2% from the average daily volume of 857,685 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

Several research firms have recently commented on SNBR. UBS Group lowered their price target on shares of Sleep Number from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sleep Number in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.00.

Sleep Number Stock Performance

The stock has a market cap of $192.80 million, a price-to-earnings ratio of -2.48 and a beta of 1.92. The business’s 50 day moving average is $5.85 and its 200 day moving average is $7.55.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). The company had revenue of $342.88 million during the quarter, compared to analysts’ expectations of $362.48 million. The company’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. Research analysts expect that Sleep Number Corporation will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Sleep Number

Several institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC acquired a new position in Sleep Number in the 3rd quarter valued at $70,000. Sei Investments Co. bought a new stake in Sleep Number during the second quarter valued at about $73,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Sleep Number in the third quarter valued at about $87,000. Inscription Capital LLC bought a new position in shares of Sleep Number in the third quarter worth about $91,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Sleep Number during the 3rd quarter worth about $91,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.