Frank Martell Acquires 30,534 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 30,534 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average price of $2.06 per share, for a total transaction of $62,900.04. Following the completion of the transaction, the chief executive officer directly owned 2,094,330 shares in the company, valued at approximately $4,314,319.80. This represents a 1.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 16th, Frank Martell acquired 19,466 shares of SmartRent stock. The shares were bought at an average cost of $2.07 per share, for a total transaction of $40,294.62.
• On Thursday, December 11th, Frank Martell bought 25,000 shares of SmartRent stock. The stock was purchased at an average cost of $2.07 per share, for a total transaction of $51,750.00.
• On Friday, December 5th, Frank Martell bought 124,086 shares of SmartRent stock. The shares were acquired at an average price of $1.91 per share, with a total value of $237,004.26.
• On Thursday, December 4th, Frank Martell purchased 100,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.88 per share, with a total value of $188,000.00.
• On Wednesday, December 3rd, Frank Martell acquired 27,722 shares of SmartRent stock. The stock was acquired at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The shares were bought at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell bought 18,432 shares of SmartRent stock. The stock was bought 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 purchased at an average price of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell purchased 93,764 shares of SmartRent stock. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $137,833.08.

SmartRent Price Performance

SMRT stock opened at $2.08 on Thursday. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year high of $2.20. The business has a 50-day moving average price of $1.60 and a 200 day moving average price of $1.34. The company has a market capitalization of $393.16 million, a P/E ratio of -5.77 and a beta of 1.82.

SmartRent (NYSE:SMRT) last posted its 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. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The business had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36.27 million. On average, analysts anticipate that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of SmartRent during the first quarter worth $300,000. Nuveen LLC purchased a new position in SmartRent in the 1st quarter worth $498,000. Y Intercept Hong Kong Ltd acquired a new stake in SmartRent during the 2nd quarter worth about $266,000. Pallas Capital Advisors LLC grew its stake 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 purchasing an additional 17,312 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of SmartRent by 1,230.2% in the second quarter. Public Employees Retirement System of Ohio now owns 143,680 shares of the company’s stock worth $142,000 after purchasing an additional 132,879 shares during the last quarter. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SMRT has been the subject of a number of analyst reports. Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of SmartRent in a research note on Monday. Finally, Zacks Research upgraded shares of SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $1.45.

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.