Key Points
- SmartRent CEO Frank Martell bought 100,000 shares on May 12 at an average price of $1.18 each, a $118,000 transaction. His direct ownership rose to 3,165,266 shares, a 3.26% increase.
- Martell also purchased 50,000 shares on May 8 at $1.12 per share, indicating repeated insider buying over a short period.
- SmartRent recently reported flat-to-slightly weaker quarterly results, with EPS matching estimates at -$0.02 and revenue of $36.63 million versus $36.82 million expected. Analyst sentiment remains cautious, with a consensus rating of Reduce and a target price of $1.45.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell purchased 100,000 shares of SmartRent stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $1.18 per share, for a total transaction of $118,000.00. Following the transaction, the chief executive officer directly owned 3,165,266 shares of the company's stock, valued at approximately $3,735,013.88. This represents a 3.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Frank Martell also recently made the following trade(s):
- On Friday, May 8th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.12 per share, for a total transaction of $56,000.00.
SmartRent Stock Performance
Shares of SMRT opened at $1.12 on Thursday. The stock has a market capitalization of $215.02 million, a PE ratio of -8.58 and a beta of 1.57. SmartRent, Inc. has a 1 year low of $0.74 and a 1 year high of $2.20. The company's 50-day simple moving average is $1.49 and its 200-day simple moving average is $1.64.
SmartRent (NYSE:SMRT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The business had revenue of $36.63 million for the quarter, compared to analysts' expectations of $36.82 million. SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. On average, sell-side analysts predict that SmartRent, Inc. will post -0.1 earnings per share for the current year.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of SmartRent from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $1.45.
Read Our Latest Stock Analysis on SmartRent
Institutional Trading of SmartRent
Several hedge funds have recently added to or reduced their stakes in SMRT. Kanen Wealth Management LLC acquired a new stake in SmartRent in the third quarter valued at approximately $26,000. Neuberger Berman Group LLC acquired a new stake in SmartRent in the fourth quarter valued at approximately $30,000. Dean Jacobson Financial Services LLC acquired a new stake in SmartRent in the fourth quarter valued at approximately $35,000. Oppenheimer Asset Management Inc. acquired a new stake in SmartRent in the fourth quarter valued at approximately $39,000. Finally, Jump Financial LLC acquired a new stake in SmartRent in the second quarter valued at approximately $42,000. Institutional investors and hedge funds 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.
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