Weiss Ratings Reiterates "Sell (E+)" Rating for Sleep Number (NASDAQ:SNBR)

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Sleep Number (NASDAQ:SNBR), indicating ongoing concerns about the company's stock performance.
• Sleep Number reported a quarterly loss of ($1.09) EPS, missing analysts’ estimates and showing a 19.7% decrease in revenue compared to the previous year.
• The company's market cap is currently $143.22 million, with substantial institutional ownership at 85.67% of shares held by hedge funds and other investors.

Sleep Number (NASDAQ:SNBR - Get Free Report)'s stock had its "sell (e+)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Sleep Number Stock Performance

Shares of NASDAQ:SNBR traded up $0.04 during midday trading on Tuesday, hitting $6.29. 137,291 shares of the company's stock traded hands, compared to its average volume of 617,396. Sleep Number has a twelve month low of $4.48 and a twelve month high of $20.73. The company has a market cap of $143.22 million, a PE ratio of -3.46 and a beta of 1.74. The firm's fifty day moving average price is $8.93 and its two-hundred day moving average price is $8.03.

Sleep Number (NASDAQ:SNBR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.97). The business had revenue of $327.93 million during the quarter, compared to the consensus estimate of $357.42 million. The firm's revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.22) EPS. Sleep Number has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Sleep Number will post -0.42 EPS for the current fiscal year.

Institutional Trading of Sleep Number

Several hedge funds and other institutional investors have recently bought and sold shares of SNBR. SummerHaven Investment Management LLC grew its stake in shares of Sleep Number by 3.0% during the second quarter. SummerHaven Investment Management LLC now owns 88,881 shares of the company's stock worth $600,000 after buying an additional 2,600 shares during the last quarter. Inspire Investing LLC raised its position in Sleep Number by 6.4% in the second quarter. Inspire Investing LLC now owns 57,898 shares of the company's stock worth $391,000 after acquiring an additional 3,505 shares during the period. CWM LLC grew its stake in shares of Sleep Number by 30.6% during the 2nd quarter. CWM LLC now owns 15,626 shares of the company's stock worth $106,000 after acquiring an additional 3,663 shares during the period. Russell Investments Group Ltd. lifted its holdings in Sleep Number by 11.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 37,026 shares of the company's stock worth $250,000 after purchasing an additional 3,764 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Sleep Number by 15.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 40,100 shares of the company's stock worth $271,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.