Insider Buying: SmartRent (NYSE:SMRT) CEO Buys $48,749.74 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 28,846 shares of SmartRent stock in a transaction that occurred on Tuesday, December 2nd. The stock was bought at an average price of $1.69 per share, with a total value of $48,749.74. Following the purchase, the chief executive officer directly owned 1,195,482 shares of the company’s stock, valued at approximately $2,020,364.58. This trade represents a 2.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, December 4th, Frank Martell bought 100,000 shares of SmartRent stock. The shares were bought at an average price of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell purchased 27,722 shares of SmartRent stock. The shares were purchased at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Monday, December 1st, Frank Martell bought 18,432 shares of SmartRent stock. The stock was purchased at an average cost of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell purchased 93,764 shares of SmartRent stock. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell acquired 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The shares were bought at an average price of $1.44 per share, with a total value of $72,000.00.

SmartRent Stock Performance

SMRT stock opened at $1.88 on Friday. The stock’s 50 day moving average price is $1.49 and its 200 day moving average price is $1.27. The firm has a market cap of $354.75 million, a P/E ratio of -5.21 and a beta of 1.82. SmartRent, Inc. has a 1 year low of $0.67 and a 1 year high of $1.93.

SmartRent (NYSE:SMRT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $36.20 million during the quarter, compared to analysts’ expectations of $36.27 million. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%. On average, research analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a report on Monday. Keefe, Bruyette & Woods upped their target price on SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SmartRent has an average rating of “Reduce” and an average target price of $1.45.

Institutional Trading of SmartRent

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pallas Capital Advisors LLC raised its stake in shares of SmartRent by 128.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock valued at $30,000 after acquiring an additional 17,312 shares during the period. Steinberganna Wealth Management acquired a new position in shares of SmartRent during the third quarter worth about $25,000. Kanen Wealth Management LLC purchased a new stake in shares of SmartRent in the third quarter worth about $26,000. Bank of America Corp DE grew its stake in shares of SmartRent by 5.4% in the third quarter. Bank of America Corp DE now owns 375,557 shares of the company’s stock valued at $530,000 after buying an additional 19,373 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of SmartRent by 65.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 57,179 shares of the company’s stock valued at $57,000 after buying an additional 22,582 shares during the period. Institutional investors and hedge funds 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.