Sangeeth Ponathil Purchases 10,000 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) insider Sangeeth Ponathil bought 10,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $12,500.00. Following the completion of the transaction, the insider directly owned 10,000 shares of the company’s stock, valued at $12,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

SmartRent Stock Down 0.4%

Shares of NYSE:SMRT opened at $1.31 on Friday. SmartRent, Inc. has a twelve month low of $0.78 and a twelve month high of $2.20. The stock’s 50 day moving average is $1.38 and its 200-day moving average is $1.63. The firm has a market capitalization of $251.66 million, a price-to-earnings ratio of -10.04 and a beta of 1.57.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%.The company had revenue of $36.63 million for the quarter, compared to analyst estimates of $36.82 million. Equities research analysts anticipate that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SMRT shares. Weiss Ratings lowered SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price target on SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a research report on Monday, May 18th. Two 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 currently has a consensus rating of “Reduce” and a consensus target price of $1.40.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its stake in SmartRent by 33.3% in the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after purchasing an additional 3,915,817 shares during the period. Northern Right Capital Management L.P. bought a new position in SmartRent in the 3rd quarter valued at $3,739,000. Mak Capital One LLC bought a new position in SmartRent in the 3rd quarter valued at $4,038,000. Royce & Associates LP grew its stake in SmartRent by 58.0% in the 3rd quarter. Royce & Associates LP now owns 1,369,571 shares of the company’s stock valued at $1,931,000 after purchasing an additional 502,994 shares during the period. Finally, Centiva Capital LP bought a new position in SmartRent in the 3rd quarter valued at $285,000. Institutional investors own 59.42% of the company’s stock.

About SmartRent

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.