Sleep Number (NASDAQ:SNBR) Lifted to “Buy” at StockNews.com

Sleep Number (NASDAQ:SNBR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other equities research analysts also recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $13.50 price objective on shares of Sleep Number in a report on Thursday, April 25th. UBS Group upped their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, Piper Sandler reduced their price objective on shares of Sleep Number from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday.

Sleep Number Stock Performance

NASDAQ:SNBR traded up $2.35 during trading hours on Thursday, reaching $14.15. The stock had a trading volume of 1,520,759 shares, compared to its average volume of 554,200. The stock has a market cap of $315.97 million, a P/E ratio of -9.31 and a beta of 2.05. The stock has a 50 day simple moving average of $11.50 and a 200 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.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Sleep Number in the fourth quarter valued at approximately $62,000. GAMMA Investing LLC raised its position in shares of Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after buying an additional 3,027 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sleep Number by 27.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,224 shares of the company’s stock worth $77,000 after acquiring an additional 1,114 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Sleep Number in the first quarter worth $149,000. Finally, Invenomic Capital Management LP bought a new position in Sleep Number in the fourth quarter valued at $221,000. 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.