Insider Buying: SmartRent (NYSE:SMRT) Insider Acquires 10,000 Shares of Stock

by · The Cerbat Gem

SmartRent, Inc. (NYSE:SMRT – Get Free Report) insider Sangeeth Ponathil acquired 10,000 shares of SmartRent stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $1.25 per share, with a total value of $12,500.00. Following the transaction, the insider 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SmartRent Stock Performance

NYSE:SMRT traded up $0.05 during mid-day trading on Wednesday, reaching $1.32. The stock had a trading volume of 1,043,725 shares, compared to its average volume of 1,105,484. The firm has a market capitalization of $253.58 million, a price-to-earnings ratio of -10.12 and a beta of 1.57. SmartRent, Inc. has a twelve month low of $0.78 and a twelve month high of $2.20. The business has a 50 day simple moving average of $1.39 and a 200 day simple moving average of $1.63.

SmartRent (NYSE:SMRT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $36.63 million during the quarter, compared to the consensus estimate of $36.82 million. SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. As a group, sell-side analysts expect that SmartRent, Inc. will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On SmartRent

Hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC acquired a new stake in shares of SmartRent during the 4th quarter valued at approximately $30,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of SmartRent during the 1st quarter valued at approximately $26,000. Dean Jacobson Financial Services LLC purchased a new position in shares of SmartRent during the 4th quarter worth approximately $35,000. Kanen Wealth Management LLC purchased a new position in shares of SmartRent during the 3rd quarter worth approximately $26,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of SmartRent during the 4th quarter worth approximately $39,000. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SMRT shares. Keefe, Bruyette & Woods reduced their price objective on shares of SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a research report on Monday, May 18th. Weiss Ratings upgraded shares of SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $1.40.

View Our Latest Research Report on SMRT

About SmartRent

(Get Free Report)

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.

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