SmartRent (NYSE:SMRT) Director Ana Pinczuk Acquires 107,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director Ana Pinczuk purchased 107,000 shares of SmartRent stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $1.43 per share, for a total transaction of $153,010.00. Following the completion of the purchase, the director directly owned 385,704 shares in the company, valued at approximately $551,556.72. This trade represents a 38.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SmartRent Price Performance

Shares of SMRT stock traded up $0.07 during trading hours on Tuesday, hitting $1.43. The company had a trading volume of 1,311,532 shares, compared to its average volume of 1,470,928. The company’s fifty day moving average is $1.10 and its 200 day moving average is $1.37. SmartRent, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $2.20. The stock has a market capitalization of $273.04 million, a PE ratio of -14.25 and a beta of 1.52.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). SmartRent had a negative net margin of 12.97% and a negative return on equity of 8.50%. The company had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million. Equities analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of SmartRent

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC boosted its holdings in SmartRent by 60.9% in 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 purchased a new stake in shares of SmartRent during the fourth quarter worth approximately $30,000. Invesco Ltd. increased its position in shares of SmartRent by 4.8% in the 4th 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 last quarter. Squarepoint Ops LLC increased its position in shares of SmartRent by 111.3% in the 4th 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 last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of SmartRent in the 1st quarter valued at $26,000. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SMRT shares. Weiss Ratings cut SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Keefe, Bruyette & Woods cut their price objective on SmartRent from $1.40 to $1.20 and set a “market perform” rating on the stock in a report on Monday, July 13th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SmartRent currently has a consensus rating of “Reduce” and a consensus price target of $1.20.

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.