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

Sleep Number Co. (NASDAQ:SNBR) was the target of a large growth in short interest during 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. Approximately 19.6% of the company’s shares are short sold. Based on an average trading volume of 520,600 shares, the days-to-cover ratio is currently 7.8 days.

Sleep Number Trading Up 0.5 %

Sleep Number stock traded up $0.05 during midday trading on Monday, reaching $10.78. 312,088 shares of the stock traded hands, compared to its average volume of 542,615. The company has a 50-day simple moving average of $11.60 and a two-hundred day simple moving average of $12.78. Sleep Number has a 12-month low of $8.13 and a 12-month high of $31.23. The firm has a market cap of $240.72 million, a PE ratio of -7.09 and a beta of 2.05.

Analysts Set New Price Targets

A number of analysts have issued reports on SNBR shares. Wedbush reaffirmed a “neutral” rating and issued a $13.50 target price on shares of Sleep Number in a research note on Thursday, April 25th. UBS Group raised their price objective on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Piper Sandler raised their price objective on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new position in shares of Sleep Number in the 4th quarter valued at about $3,836,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock valued at $11,896,000 after buying an additional 184,038 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Sleep Number by 7.7% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 968,810 shares of the company’s stock valued at $9,272,000 after buying an additional 69,133 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in shares of Sleep Number by 105.5% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock worth $1,741,000 after acquiring an additional 60,280 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of Sleep Number during the 4th quarter worth about $758,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

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.