SmartRent (NYSE:SMRT) CEO Frank Martell Acquires 50,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $1.12 per share, for a total transaction of $56,000.00. Following the completion of the purchase, the chief executive officer directly owned 3,065,266 shares in the company, valued at $3,433,097.92. This represents a 1.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

SmartRent Stock Performance

Shares of SMRT stock opened at $1.13 on Friday. The stock’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $1.65. The company has a market capitalization of $216.29 million, a price-to-earnings ratio of -8.65 and a beta of 1.57. SmartRent, Inc. has a twelve month low of $0.72 and a twelve month high of $2.20.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $36.63 million for the quarter, compared to the consensus estimate of $36.82 million. SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%. On average, analysts forecast that SmartRent, Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings raised SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $1.45.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its position in shares of SmartRent by 60.9% during the fourth quarter. LPL Financial LLC now owns 37,000 shares of the company’s stock valued at $75,000 after purchasing an additional 14,000 shares during the period. Neuberger Berman Group LLC bought a new stake in shares of SmartRent during the fourth quarter valued at approximately $30,000. Invesco Ltd. increased its position in shares of SmartRent by 4.8% during the fourth quarter. Invesco Ltd. now owns 331,584 shares of the company’s stock valued at $670,000 after purchasing an additional 15,124 shares during the period. Squarepoint Ops LLC increased its position in shares of SmartRent by 111.3% during the fourth quarter. Squarepoint Ops LLC now owns 31,774 shares of the company’s stock valued at $64,000 after purchasing an additional 16,734 shares during the period. Finally, Steinberganna Wealth Management bought a new stake in shares of SmartRent during the third quarter valued at approximately $25,000. 59.42% of the stock is owned by institutional investors.

SmartRent Company Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.