Sleep Number (NASDAQ:SNBR) Trading Down 3.3% – What’s Next?

Shares of Sleep Number Corporation (NASDAQ:SNBR) fell 3.3% during mid-day trading on Monday . The stock traded as low as $7.87 and last traded at $8.18. 837,468 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 857,685 shares. The stock had previously closed at $8.46.

Analyst Upgrades and Downgrades

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

Sleep Number Stock Down 3.3%

The business has a fifty day moving average price of $5.77 and a 200-day moving average price of $7.56. The company has a market cap of $186.42 million, a P/E ratio of -2.40 and a beta of 1.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL acquired a new position in shares of Sleep Number in the third quarter valued at approximately $702,000. Worth Venture Partners LLC bought a new stake in shares of Sleep Number during the third quarter worth about $105,000. PharVision Advisers LLC purchased a new position in Sleep Number during the 3rd quarter worth $133,000. XTX Topco Ltd raised its stake in shares of Sleep Number by 437.0% during the 3rd quarter. XTX Topco Ltd now owns 105,706 shares of the company’s stock worth $742,000 after purchasing an additional 86,020 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Sleep Number by 34.5% during the third quarter. Verition Fund Management LLC now owns 122,928 shares of the company’s stock valued at $863,000 after purchasing an additional 31,518 shares during the period. Institutional investors own 85.67% of the company’s stock.

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.