SmartRent, Inc. (NYSE:SMRT) Director Purchases $69,895.80 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Frank Martell acquired 48,204 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $69,895.80. Following the completion of the transaction, the director now owns 248,204 shares in the company, valued at $359,895.80. The trade was a 24.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was purchased at an average price of $1.49 per share, for a total transaction of $74,500.00.
• On Friday, September 6th, Frank Martell acquired 75,000 shares of SmartRent stock. The shares were acquired at an average price of $1.63 per share, with a total value of $122,250.00.

SmartRent Stock Performance

NYSE:SMRT opened at $1.44 on Tuesday. The company has a 50-day moving average of $1.68 and a 200-day moving average of $2.01. The firm has a market cap of $277.30 million, a price-to-earnings ratio of -11.08 and a beta of 1.96. SmartRent, Inc. has a twelve month low of $1.17 and a twelve month high of $3.47.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, November 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $40.50 million for the quarter, compared to analyst estimates of $45.94 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The firm’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. On average, research analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Keefe, Bruyette & Woods downgraded SmartRent from an “outperform” rating to a “market perform” rating and cut their target price for the company from $3.50 to $2.00 in a research note on Thursday, August 8th. Cantor Fitzgerald downgraded shares of SmartRent from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $4.00 to $2.00 in a report on Thursday, August 8th. Colliers Securities lowered shares of SmartRent from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research downgraded shares of SmartRent from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, DA Davidson cut shares of SmartRent from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.25 to $2.00 in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, SmartRent currently has an average rating of “Hold” and a consensus price target of $2.50.

Institutional Investors Weigh In On SmartRent

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of SmartRent during the third quarter worth $30,000. Algert Global LLC purchased a new position in SmartRent in the 2nd quarter worth about $42,000. Paloma Partners Management Co acquired a new stake in SmartRent during the 3rd quarter worth about $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SmartRent during the third quarter valued at about $65,000. Finally, Virtu Financial LLC acquired a new position in shares of SmartRent in the first quarter worth about $84,000. 59.42% of the stock is owned by institutional investors.

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.