SmartRent (NYSE:SMRT) CEO Buys $237,004.26 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 124,086 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $1.91 per share, for a total transaction of $237,004.26. Following the acquisition, the chief executive officer directly owned 1,447,290 shares in the company, valued at $2,764,323.90. This represents a 9.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, December 4th, Frank Martell acquired 100,000 shares of SmartRent stock. The stock was acquired at an average price of $1.88 per share, with a total value of $188,000.00.
• On Wednesday, December 3rd, Frank Martell bought 27,722 shares of SmartRent stock. The shares were bought at an average price of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was bought at an average cost of $1.69 per share, for a total transaction of $48,749.74.
• On Monday, December 1st, Frank Martell purchased 18,432 shares of SmartRent stock. The stock was bought at an average price of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The shares were bought at an average cost of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were bought at an average price 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 stock was bought at an average cost of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Price Performance

SMRT stock traded up $0.08 during trading hours on Friday, reaching $1.96. 2,582,769 shares of the stock were exchanged, compared to its average volume of 1,633,981. The firm’s 50-day moving average is $1.49 and its 200-day moving average is $1.27. SmartRent, Inc. has a 12 month low of $0.67 and a 12 month high of $2.14. The company has a market cap of $371.59 million, a price-to-earnings ratio of -5.46 and a beta of 1.82.

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

Institutional Trading of SmartRent

A number of large investors have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of SmartRent in the 1st quarter valued at about $498,000. Algert Global LLC bought a new position in SmartRent during the first quarter worth about $133,000. Crossingbridge Advisors LLC grew its holdings in SmartRent by 15.4% during the first quarter. Crossingbridge Advisors LLC now owns 375,000 shares of the company’s stock worth $420,000 after purchasing an additional 50,000 shares during the period. Ieq Capital LLC acquired a new position in SmartRent during the first quarter worth approximately $113,000. Finally, Cubist Systematic Strategies LLC bought a new stake in SmartRent in the first quarter valued at approximately $300,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Wall Street Analyst Weigh In

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

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.