Insider Buying: SmartRent, Inc. (NYSE:SMRT) Director Purchases 48,204 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) Director Frank Martell bought 48,204 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $1.45 per share, with a total value of $69,895.80. Following the purchase, the director now owns 248,204 shares of the company’s stock, valued at $359,895.80. The trade was a 24.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was acquired at an average cost of $1.49 per share, with a total value of $74,500.00.
• On Friday, September 6th, Frank Martell acquired 75,000 shares of SmartRent stock. The shares were acquired at an average price of $1.63 per share, for a total transaction of $122,250.00.

SmartRent Stock Performance

Shares of NYSE SMRT remained flat at $1.44 during midday trading on Monday. 982,210 shares of the company were exchanged, compared to its average volume of 1,427,057. SmartRent, Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $3.47. The firm has a market capitalization of $277.30 million, a P/E ratio of -11.08 and a beta of 1.96. The stock’s 50 day moving average is $1.68 and its 200-day moving average is $2.01.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Colliers Securities cut SmartRent from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald cut SmartRent from an “overweight” rating to a “neutral” rating and cut their target price for the company from $4.00 to $2.00 in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lowered 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 research report on Thursday, August 8th. DA Davidson downgraded shares of SmartRent from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.25 to $2.00 in a research report on Wednesday, July 31st. Finally, BTIG Research lowered shares of SmartRent from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Institutional Trading of SmartRent

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in SmartRent by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 20,244,087 shares of the company’s stock valued at $54,254,000 after acquiring an additional 386,845 shares during the last quarter. Long Pond Capital LP grew its position in SmartRent by 26.1% in the first quarter. Long Pond Capital LP now owns 3,995,946 shares of the company’s stock worth $10,709,000 after buying an additional 826,136 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after buying an additional 8,169 shares in the last quarter. Blue Door Asset Management LLC lifted its position in shares of SmartRent by 41.6% during the 1st quarter. Blue Door Asset Management LLC now owns 4,424,864 shares of the company’s stock valued at $11,859,000 after acquiring an additional 1,299,283 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of SmartRent during the 1st quarter worth $84,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

SmartRent Company Profile

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.