SmartRent, Inc. (NYSE:SMRT) Director Acquires $74,500.00 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Frank Martell bought 50,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.49 per share, with a total value of $74,500.00. Following the completion of the transaction, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $298,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Frank Martell also recently made the following trade(s):

• On Monday, November 18th, Frank Martell acquired 48,204 shares of SmartRent stock. The stock was purchased at an average cost of $1.45 per share, with a total value of $69,895.80.
• On Friday, September 6th, Frank Martell acquired 75,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $122,250.00.

SmartRent Stock Performance

NYSE:SMRT opened at $1.48 on Wednesday. SmartRent, Inc. has a 52-week low of $1.17 and a 52-week high of $3.47. The stock has a fifty day moving average of $1.67 and a 200 day moving average of $2.00. The firm has a market capitalization of $284.04 million, a price-to-earnings ratio of -11.35 and a beta of 1.96.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The business had revenue of $40.50 million for the quarter, compared to the consensus estimate of $45.94 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The business’s revenue was down 30.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. Equities analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SMRT has been the subject of several recent research reports. DA Davidson downgraded shares of SmartRent from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $3.25 to $2.00 in a research note on Wednesday, July 31st. Colliers Securities cut shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald lowered SmartRent from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a report on Thursday, August 8th. BTIG Research lowered SmartRent from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of SmartRent from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $3.50 to $2.00 in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, SmartRent presently has an average rating of “Hold” and a consensus target price of $2.50.

Hedge Funds Weigh In On SmartRent

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SmartRent during the 3rd quarter worth $30,000. Algert Global LLC purchased a new stake in SmartRent during the second quarter valued at about $42,000. Paloma Partners Management Co bought a new stake in SmartRent during the third quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SmartRent in the 3rd quarter worth about $65,000. Finally, Virtu Financial LLC purchased a new position in shares of SmartRent in the 1st quarter worth about $84,000. Institutional investors own 59.42% of the company’s stock.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.