Key Points
- Director Thomas Bohjalian bought 75,000 shares of SmartRent at an average price of $1.11, spending about $83,250 and lifting his ownership by 11.61% to 721,062 shares.
- SmartRent’s latest quarterly results met EPS expectations at ($0.02) per share, while revenue of $36.63 million came in slightly below estimates. The company remains unprofitable, with a negative net margin and return on equity.
- Analysts remain cautious on the stock, with a consensus rating of “Reduce” and an average price target of $1.40. Weiss Ratings recently downgraded the shares, and Keefe, Bruyette & Woods cut its target from $2.00 to $1.40.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) Director Thomas Bohjalian bought 75,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were acquired at an average cost of $1.11 per share, for a total transaction of $83,250.00. Following the completion of the transaction, the director directly owned 721,062 shares of the company's stock, valued at approximately $800,378.82. The trade was a 11.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
SmartRent Price Performance
SmartRent stock opened at $1.10 on Thursday. The company has a market capitalization of $211.16 million, a price-to-earnings ratio of -8.42 and a beta of 1.53. SmartRent, Inc. has a one year low of $0.85 and a one year high of $2.20. The company's fifty day moving average price is $1.31 and its two-hundred day moving average price is $1.61.
SmartRent (NYSE:SMRT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $36.63 million for the quarter, compared to the consensus estimate of $36.82 million. SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. As a group, sell-side analysts anticipate that SmartRent, Inc. will post -0.1 earnings per share for the current year.
Analysts Set New Price Targets
SMRT has been the topic of several analyst reports. Weiss Ratings downgraded shares of SmartRent from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods cut their target price on shares of SmartRent from $2.00 to $1.40 and set a "market perform" rating for the company in a research report on Monday, May 18th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $1.40.
Get Our Latest Report on SmartRent
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SMRT. CTC Alternative Strategies Ltd. acquired a new position in SmartRent during the 1st quarter worth $26,000. Kanen Wealth Management LLC acquired a new position in SmartRent during the 3rd quarter worth $26,000. Neuberger Berman Group LLC acquired a new position in SmartRent during the 4th quarter worth $30,000. SummitTX Capital L.P. acquired a new position in SmartRent during the 1st quarter worth $34,000. Finally, Dean Jacobson Financial Services LLC acquired a new position in SmartRent during the 4th quarter worth $35,000. 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.
Further Reading
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