Key Points
- CEO Frank Martell bought 100,000 SmartRent shares at an average price of $1.42, investing $142,000 and increasing his ownership by 2.8% to 3.67 million shares.
- SmartRent shares opened at $1.43 after rising 4.8%, but the company recently missed quarterly earnings and revenue estimates, reporting an EPS loss of $0.03 and $38.39 million in revenue.
- Analyst sentiment remains cautious: SmartRent has an average “Reduce” rating, a $1.20 price target, and institutional investors own 59.42% of the stock.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell bought 100,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were acquired at an average cost of $1.42 per share, with a total value of $142,000.00. Following the purchase, the chief executive officer owned 3,672,086 shares of the company's stock, valued at $5,214,362.12. The trade was a 2.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Frank Martell also recently made the following trade(s):
- On Friday, June 5th, Frank Martell bought 40,260 shares of SmartRent stock. The stock was acquired at an average price of $1.13 per share, for a total transaction of $45,493.80.
- On Thursday, June 4th, Frank Martell purchased 20,000 shares of SmartRent stock. The stock was acquired at an average cost of $1.19 per share, for a total transaction of $23,800.00.
SmartRent Stock Up 4.8%
Shares of SmartRent stock opened at $1.43 on Wednesday. The firm has a market cap of $273.04 million, a PE ratio of -14.25 and a beta of 1.52. SmartRent, Inc. has a 52 week low of $0.91 and a 52 week high of $2.20. The business's fifty day simple moving average is $1.10 and its 200-day simple moving average is $1.36.
SmartRent (NYSE:SMRT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $38.39 million for the quarter, compared to analyst estimates of $39.62 million. SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%. As a group, equities analysts expect that SmartRent, Inc. will post -0.1 earnings per share for the current year.
Hedge Funds Weigh In On SmartRent
Several hedge funds have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. acquired a new position in SmartRent in the 1st quarter valued at about $26,000. Kanen Wealth Management LLC acquired a new stake in shares of SmartRent during the third quarter worth about $26,000. Neuberger Berman Group LLC purchased a new position in shares of SmartRent in the fourth quarter valued at approximately $30,000. SummitTX Capital L.P. purchased a new position in shares of SmartRent in the first quarter valued at approximately $34,000. Finally, Dean Jacobson Financial Services LLC acquired a new position in shares of SmartRent in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 59.42% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of SmartRent from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods lowered their price objective on shares of SmartRent from $1.40 to $1.20 and set a "market perform" rating for the company in a research report on Monday, July 13th. Two equities research 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, SmartRent has an average rating of "Reduce" and an average price target of $1.20.
View Our Latest Report on SMRT
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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