Key Points
- SmartRent CEO Frank Martell bought 20,000 shares on June 4 at an average price of $1.19, a $23,800 transaction that increased his direct stake by 0.63%.
- Martell also made several recent insider purchases, including 40,260 shares on June 5, 100,000 shares on May 12, and 50,000 shares on May 8, signaling continued insider buying.
- Despite the buying, SmartRent’s stock has been under pressure: it opened at $1.10, remains below its 50-day and 200-day averages, and analysts currently rate it “Reduce” with a consensus target price of $1.40.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell purchased 20,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $1.19 per share, for a total transaction of $23,800.00. Following the purchase, the chief executive officer directly owned 3,185,266 shares of the company's stock, valued at approximately $3,790,466.54. The trade was a 0.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Frank Martell also recently made the following trade(s):
- On Friday, June 5th, Frank Martell purchased 40,260 shares of SmartRent stock. The shares were acquired at an average price of $1.13 per share, for a total transaction of $45,493.80.
- On Tuesday, May 12th, Frank Martell purchased 100,000 shares of SmartRent stock. The shares were acquired at an average price of $1.18 per share, for a total transaction of $118,000.00.
- On Friday, May 8th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were acquired at an average price of $1.12 per share, for a total transaction of $56,000.00.
SmartRent Stock Performance
Shares of SMRT stock opened at $1.10 on Friday. SmartRent, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.20. The firm has a market capitalization of $211.16 million, a price-to-earnings ratio of -8.42 and a beta of 1.53. The stock's 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.62.
SmartRent (NYSE:SMRT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, meeting analysts' consensus estimates of ($0.02). The firm had revenue of $36.63 million for 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%. As a group, equities analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on SMRT shares. Keefe, Bruyette & Woods dropped their target price on SmartRent from $2.00 to $1.40 and set a "market perform" rating on the stock in a research report on Monday, May 18th. Weiss Ratings lowered SmartRent from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $1.40.
Get Our Latest Stock Analysis on SmartRent
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new position in SmartRent in the 4th quarter valued at $30,000. CTC Alternative Strategies Ltd. purchased a new stake in SmartRent in the 1st quarter valued at $26,000. Dean Jacobson Financial Services LLC purchased a new stake in SmartRent in the 4th quarter valued at $35,000. Kanen Wealth Management LLC purchased a new stake in SmartRent in the 3rd quarter valued at $26,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in SmartRent in the 4th quarter valued at $39,000. 59.42% of the stock is owned by institutional investors and hedge funds.
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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