SmartRent (NYSE:SMRT) Director Acquires $84,000.00 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian acquired 50,000 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was acquired at an average price of $1.68 per share, for a total transaction of $84,000.00. Following the completion of the transaction, the director directly owned 350,000 shares of the company’s stock, valued at approximately $588,000. This represents a 16.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SmartRent Trading Up 3.0%

NYSE:SMRT opened at $1.88 on Friday. The stock has a 50-day moving average price of $1.49 and a 200 day moving average price of $1.27. The stock has a market capitalization of $354.75 million, a P/E ratio of -5.21 and a beta of 1.82. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $1.93.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On SmartRent

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC grew its position in SmartRent by 944.4% in the 1st quarter. CWM LLC now owns 37,746 shares of the company’s stock valued at $46,000 after acquiring an additional 34,132 shares during the last quarter. Nuveen LLC purchased a new stake in shares of SmartRent during the first quarter valued at $498,000. Algert Global LLC bought a new position in shares of SmartRent in the first quarter worth about $133,000. Crossingbridge Advisors LLC increased its stake in SmartRent by 15.4% in the 1st quarter. Crossingbridge Advisors LLC now owns 375,000 shares of the company’s stock worth $420,000 after buying an additional 50,000 shares during the period. Finally, Ieq Capital LLC bought a new stake in SmartRent during the 1st quarter valued at about $113,000. 59.42% of the stock is owned by institutional investors.

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.