SmartRent (NYSE:SMRT) CEO Frank Martell Buys 27,722 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 27,722 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $1.86 per share, for a total transaction of $51,562.92. Following the acquisition, the chief executive officer directly owned 1,223,204 shares in the company, valued at $2,275,159.44. This represents a 2.32% 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 bought 100,000 shares of SmartRent stock. The shares were purchased at an average price of $1.88 per share, with a total value of $188,000.00.
• On Tuesday, December 2nd, Frank Martell acquired 28,846 shares of SmartRent stock. The stock was acquired at an average price 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 acquired at an average price of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell bought 56,236 shares of SmartRent stock. The stock was bought at an average cost of $1.44 per share, for a total transaction 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 purchased 50,000 shares of SmartRent stock. The stock was purchased at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were acquired at an average price of $1.44 per share, with a total value of $72,000.00.

SmartRent Stock Up 2.9%

Shares of NYSE SMRT traded up $0.06 during midday trading on Friday, hitting $1.94. 928,539 shares of the company’s stock were exchanged, compared to its average volume of 1,625,255. The firm has a market capitalization of $366.10 million, a PE ratio of -5.38 and a beta of 1.82. SmartRent, Inc. has a 12 month low of $0.67 and a 12 month high of $2.14. The company’s 50 day moving average price is $1.49 and its 200 day moving average price is $1.27.

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

Hedge Funds Weigh In On SmartRent

Several institutional investors have recently made changes to their positions in the stock. Steinberganna Wealth Management purchased a new position in shares of SmartRent in the third quarter valued at $25,000. Kanen Wealth Management LLC purchased a new stake in SmartRent during the 3rd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC bought a new position in SmartRent in the 2nd quarter worth about $27,000. Franklin Resources Inc. purchased a new position in SmartRent during the 3rd quarter valued at about $43,000. Finally, Pallas Capital Advisors LLC grew its holdings in SmartRent by 128.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock valued at $30,000 after buying an additional 17,312 shares in the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Analysts Set New Price Targets

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