SmartRent, Inc. (NYSE:SMRT) Director Frank Martell Buys 48,204 Shares

SmartRent, Inc. (NYSE:SMRT) Director Frank Martell acquired 48,204 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $1.45 per share, with a total value of $69,895.80. Following the acquisition, the director now directly owns 248,204 shares in the company, valued at approximately $359,895.80. This trade represents a 24.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

SmartRent Trading Up 2.4 %

SMRT stock opened at $1.48 on Wednesday. The stock has a market capitalization of $284.04 million, a P/E ratio of -11.35 and a beta of 1.96. The firm has a 50-day moving average price of $1.67 and a 200-day moving average price of $2.00. SmartRent, Inc. has a 12 month low of $1.17 and a 12 month high of $3.47.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The company had revenue of $40.50 million during 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 business’s quarterly revenue was down 30.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. As a group, equities analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On SmartRent

A number of institutional investors and hedge funds have recently bought and sold shares of SMRT. Rhumbline Advisers boosted its stake in shares of SmartRent by 2.9% during the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after purchasing an additional 7,597 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its position in SmartRent by 12.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,918 shares of the company’s stock worth $184,000 after buying an additional 8,532 shares during the period. State Street Corp grew its holdings in SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock worth $7,277,000 after acquiring an additional 15,642 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in SmartRent in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

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.