SmartRent, Inc. (NYSE:SMRT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of SmartRent, Inc. (NYSE:SMRT) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.89.

Several equities analysts recently commented on SMRT shares. Colliers Securities cut shares of SmartRent from a “buy” rating to a “neutral” rating in a research note on Wednesday. DA Davidson cut shares of SmartRent from a “buy” rating to a “neutral” rating and cut their target price for the company from $3.25 to $2.00 in a research note on Wednesday. Finally, BTIG Research cut their target price on shares of SmartRent from $4.30 to $4.00 and set a “buy” rating for the company in a research note on Monday, June 3rd.

Hedge Funds Weigh In On SmartRent

A number of hedge funds have recently made changes to their positions in SMRT. Victory Capital Management Inc. raised its stake in shares of SmartRent by 30.7% in the 4th quarter. Victory Capital Management Inc. now owns 22,428 shares of the company’s stock valued at $72,000 after buying an additional 5,264 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of SmartRent in the 1st quarter valued at $84,000. Price T Rowe Associates Inc. MD raised its stake in shares of SmartRent by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after buying an additional 8,169 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in shares of SmartRent by 104.3% in the 2nd quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock valued at $169,000 after buying an additional 36,123 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of SmartRent in the 4th quarter valued at $214,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

SmartRent Stock Performance

Shares of SMRT opened at $1.93 on Wednesday. The company’s 50 day moving average price is $2.39 and its 200 day moving average price is $2.61. SmartRent has a 52 week low of $1.80 and a 52 week high of $4.01. The company has a market capitalization of $389.53 million, a PE ratio of -12.87 and a beta of 1.98.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). SmartRent had a negative net margin of 13.08% and a negative return on equity of 7.28%. The firm had revenue of $50.49 million for the quarter, compared to the consensus estimate of $51.43 million. On average, equities analysts forecast that SmartRent will post -0.06 earnings per share for the current fiscal year.

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.