Key Points
- Frank Martell purchased 100,000 shares of SmartRent on Dec. 4 at an average price of $1.88, raising his ownership to 1,323,204 shares (an 8.18% increase) after roughly 425,000 shares of insider buys since September.
- Shares traded up about 5.1% to $1.98 after the disclosure, but analysts still carry an average "Reduce" rating with a $1.45 consensus price target; SmartRent reported ($0.03) EPS that beat estimates yet remains unprofitable with negative margins.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell acquired 27,722 shares of the company's stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average cost of $1.86 per share, with a total value of $51,562.92. Following the purchase, the chief executive officer directly owned 1,223,204 shares of the company's stock, valued at $2,275,159.44. This trade represents a 2.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Frank Martell also recently made the following trade(s):
- On Thursday, December 4th, Frank Martell bought 100,000 shares of SmartRent stock. The stock was acquired at an average price of $1.88 per share, for a total transaction of $188,000.00.
- On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was acquired at an average cost of $1.69 per share, for a total transaction of $48,749.74.
- On Monday, December 1st, Frank Martell purchased 18,432 shares of SmartRent stock. The shares were acquired at an average price of $1.69 per share, with a total value of $31,150.08.
- On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The shares were acquired at an average cost of $1.44 per share, with a total value of $80,979.84.
- On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The stock was bought at an average price of $1.47 per share, for a total transaction of $137,833.08.
- On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.53 per share, for a total transaction of $76,500.00.
- On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were bought at an average price of $1.44 per share, with a total value of $72,000.00.
SmartRent Trading Up 2.9%
Shares of NYSE:SMRT traded up $0.06 during trading on Friday, reaching $1.94. The company had a trading volume of 928,539 shares, compared to its average volume of 1,625,255. The company has a fifty day moving average of $1.49 and a two-hundred day moving average of $1.27. The stock has a market capitalization of $366.10 million, a P/E ratio of -5.38 and a beta of 1.82. SmartRent, Inc. has a 12 month low of $0.67 and a 12 month high of $2.14.
SmartRent (NYSE:SMRT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The company had revenue of $36.20 million during the quarter, compared to the consensus estimate of $36.27 million. As a group, equities research analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on SMRT shares. Wall Street Zen upgraded SmartRent from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods upped their target price on SmartRent from $1.30 to $1.45 and gave the stock a "market perform" rating in a research note on Tuesday, August 12th. Zacks Research upgraded shares of SmartRent from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of SmartRent in a report on Monday. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SmartRent currently has an average rating of "Reduce" and an average target price of $1.45.
Check Out Our Latest Report on SmartRent
Hedge Funds Weigh In On SmartRent
Several institutional investors and hedge funds have recently bought and sold shares of SMRT. Steinberganna Wealth Management purchased a new stake in shares of SmartRent during the third quarter valued at approximately $25,000. Kanen Wealth Management LLC purchased a new stake in SmartRent during the 3rd quarter valued at $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in SmartRent in the 2nd quarter worth $27,000. Franklin Resources Inc. purchased a new position in shares of SmartRent in the third quarter valued at about $43,000. Finally, Pallas Capital Advisors LLC increased its position in shares of SmartRent by 128.5% in the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company's stock valued at $30,000 after acquiring an additional 17,312 shares during the period. 59.42% of the stock is currently owned by institutional investors.
SmartRent Company Profile
(
Get Free Report)
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.
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