Key Points
- SmartRent director Thomas Bohjalian bought 150,000 shares on March 12 at $1.74 each (about $261,000), raising his stake to 500,000 shares — a 42.86% increase.
- Shares rose about 5.2% to $1.74 after the filing; the stock has a market capitalization of $333.5 million and a 52‑week range of $0.67–$2.20.
- SmartRent recently missed quarterly estimates with ($0.02) EPS and $33.78M revenue, reports negative margins and ROE, and carries an analyst consensus of Reduce with an average price target of $1.45.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) Director Thomas Bohjalian acquired 150,000 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the purchase, the director owned 500,000 shares in the company, valued at approximately $870,000. This represents a 42.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
SmartRent Stock Up 5.2%
Shares of NYSE SMRT traded up $0.09 during trading hours on Friday, hitting $1.74. The company had a trading volume of 700,500 shares, compared to its average volume of 1,241,595. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year high of $2.20. The firm's 50 day moving average is $1.72 and its 200-day moving average is $1.65. The stock has a market capitalization of $333.50 million, a P/E ratio of -5.42 and a beta of 1.79.
SmartRent (NYSE:SMRT - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $33.78 million for the quarter, compared to analyst estimates of $36.31 million. SmartRent had a negative return on equity of 12.81% and a negative net margin of 39.76%. On average, sell-side analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SmartRent in a research report on Monday, December 29th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $1.45.
Check Out Our Latest Analysis on SMRT
Institutional Trading of SmartRent
Hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its stake in SmartRent by 33.3% in the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company's stock valued at $22,097,000 after buying an additional 3,915,817 shares during the last quarter. Mak Capital One LLC acquired a new stake in SmartRent during the third quarter worth approximately $4,038,000. Northern Right Capital Management L.P. acquired a new stake in SmartRent during the third quarter worth approximately $3,739,000. Stoic Point Capital Management LLC bought a new stake in shares of SmartRent during the fourth quarter worth approximately $5,022,000. Finally, UBS Group AG grew its position in shares of SmartRent by 28.8% in the third quarter. UBS Group AG now owns 10,448,199 shares of the company's stock valued at $14,732,000 after purchasing an additional 2,335,454 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company's stock.
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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