Key Points
- CEO Frank Martell bought 50,000 SmartRent shares at $1.12 each, spending $56,000 and lifting his direct ownership to 3.07 million shares.
- SmartRent recently reported quarterly EPS of -$0.02, matching analyst expectations, while revenue came in slightly below estimates at $36.63 million.
- Wall Street sentiment remains cautious: the stock has a Reduce consensus rating with a $1.45 price target, even as some institutional investors have increased their stakes.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell purchased 50,000 shares of the stock in a transaction on Friday, May 8th. The stock was bought at an average price of $1.12 per share, for a total transaction of $56,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,065,266 shares of the company's stock, valued at approximately $3,433,097.92. This trade represents a 1.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
SmartRent Price Performance
Shares of NYSE:SMRT opened at $1.13 on Friday. The business's fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.65. SmartRent, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.20. The stock has a market capitalization of $216.29 million, a price-to-earnings ratio of -8.65 and a beta of 1.57.
SmartRent (NYSE:SMRT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.02). SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%.The firm had revenue of $36.63 million for the quarter, compared to analysts' expectations of $36.82 million. Research analysts expect that SmartRent, Inc. will post -0.07 EPS for the current fiscal year.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded SmartRent from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SmartRent has a consensus rating of "Reduce" and a consensus price target of $1.45.
Read Our Latest Analysis on SMRT
Institutional Trading of SmartRent
Several large investors have recently made changes to their positions in SMRT. Citigroup Inc. grew its holdings in shares of SmartRent by 33.3% during the third quarter. Citigroup Inc. now owns 15,671,673 shares of the company's stock worth $22,097,000 after purchasing an additional 3,915,817 shares during the last quarter. Mak Capital One LLC bought a new stake in shares of SmartRent during the third quarter worth $4,038,000. Northern Right Capital Management L.P. bought a new stake in shares of SmartRent during the third quarter worth $3,739,000. Stoic Point Capital Management LLC bought a new stake in shares of SmartRent during the fourth quarter worth $5,022,000. Finally, UBS Group AG grew its holdings in shares of SmartRent by 28.8% during the third quarter. UBS Group AG now owns 10,448,199 shares of the company's stock worth $14,732,000 after purchasing an additional 2,335,454 shares during the last quarter. Institutional investors own 59.42% of the company's stock.
SmartRent Company Profile
(
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.
Further Reading
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