At last check, Casper Sleep Inc. (CSPR) stock surged by 26.14% to $8.88 in the current trading session. CSPR stock previously closed at $7.04. The stock volume traded today is 10.96 million shares. 3 months average volume of stock trade is 696.52k. In the past year, CSPR stock jumped by 11.75%. In the last three and six months, the stock plunged -7.85% and -6.88% respectively.
Analyst updates rating on CSPR stock
Today Casper Sleep Inc. also surged as trading got underway in the first hour of the session. This was due to external news related to analyst rating. Wedbush analyst made an upgrade from a “neutral” rating to an “outperform rating” with the target price adjusted to $10.50 from $10.0. This positive analyst rating always attracts good news and confidence from the investors which had caused a jump of 28% in the first half-hour of trading.
CSPR Stock’s product offering
Casper Sleep Inc. was formerly a mattress company known as Providence Mattress Company that produced mattresses however it changed the name in January 2014. Afterwards, Casper Sleep produced, designed and sold a variety of sleep centric products and services. These product offerings include sleep related products like mattresses, pillow, bed sheets, sleep accessories and gadgets, along with other services.
The company has an award winning R&D team at Casper Labs that designs the sleep-centric products. It has an online retail platform now and operates 67 retail stores along with 20 retail partners.
Introducing new line of innovative Casper Cooling Collection
Analyst rating isn’t the only thing that had improved about CSPR stock; the company’s basis of operations expanded to a new innovative product line which attractive features. On 20th April, Casper Sleep Inc. (NYSE: CSPR) announced a new line of innovative sleep products known as Casper Cooling Collection. This innovative line of products are specialized to give cooling effects which was done thanks to R&D’s efforts on utilizing the most advance technological solutions to optimize the cooling effect during sleep.
Research Development team came out with a research study that concluded that the most important variable that affects the sleep quality during the night is temperature. The study showed 64% of the people surveyed had reported that the most common temperature problem while sleeping is the irregularity and irritability of sweating and overheating.
What does this new product mean for the company?
What the company essentially is figure out another niche in the sleep-related products and met the niche demand using their innovative and creative technological resources to bring about the solution- Casper Cooling Collection. The new line of products contains the company’s proprietary Snow Technology.
Furthermore, the whole suite of the collection includes Hyperlite Sheets, Lightweight Duvets, Breathable Mattress Protector. The Snow Technology mattresses consist of two main mattresses known as Casper Nova Hybrid Snow Mattress and Casper Wave Hybrid Snow Mattress which have the innovative feature of pulling away the heat from your body on the mattress.
Overall the mattress combines four unique features to generate as much comfort through cooling and has undergone 150 lab tests by the Casper R&D team which showed sustained temperature regulations.