Key Points
- Insider buying: SmartRent insider Sangeeth Ponathil bought 10,000 shares on May 26 at $1.25 per share, a $12,500 purchase that increased their direct ownership to 10,000 shares.
- Stock and financial snapshot: SMRT was trading up 3.5% at $1.32, with a market cap of about $253.6 million. The company recently reported earnings of -$0.02 per share, matching expectations, on revenue of $36.63 million.
- Sentiment remains cautious: Analysts currently have a consensus rating of Reduce with an average target price of $1.40, following a recent target cut and a downgrade from Weiss Ratings.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) insider Sangeeth Ponathil acquired 10,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $1.25 per share, with a total value of $12,500.00. Following the completion of the purchase, the insider directly owned 10,000 shares of the company's stock, valued at approximately $12,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
SmartRent Trading Up 3.5%
NYSE:SMRT opened at $1.32 on Thursday. The firm has a market cap of $253.58 million, a PE ratio of -10.12 and a beta of 1.57. The stock has a fifty day moving average price of $1.39 and a 200 day moving average price of $1.63. SmartRent, Inc. has a 12-month low of $0.78 and a 12-month high of $2.20.
SmartRent (NYSE:SMRT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.02). The firm had revenue of $36.63 million during the quarter, compared to analyst estimates of $36.82 million. SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%. Equities analysts forecast that SmartRent, Inc. will post -0.1 EPS for the current year.
Hedge Funds Weigh In On SmartRent
Several institutional investors and hedge funds have recently added to or reduced their stakes in SMRT. CTC Alternative Strategies Ltd. acquired a new position in SmartRent during the 1st quarter worth approximately $26,000. Kanen Wealth Management LLC acquired a new position in SmartRent during the 3rd quarter worth approximately $26,000. Neuberger Berman Group LLC acquired a new position in SmartRent during the 4th quarter worth approximately $30,000. SummitTX Capital L.P. acquired a new position in SmartRent during the 1st quarter worth approximately $34,000. Finally, Dean Jacobson Financial Services LLC acquired a new position in SmartRent during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 59.42% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on SMRT shares. Keefe, Bruyette & Woods reduced their target price on SmartRent from $2.00 to $1.40 and set a "market perform" rating for the company in a report on Monday, May 18th. Weiss Ratings downgraded SmartRent from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $1.40.
Check Out Our Latest Stock Report on SmartRent
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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