Key Points
- SmartRent Director Thomas Bohjalian bought 15,000 shares at an average price of $1.36, investing $20,400 and increasing his ownership by 1.96% to 781,062 shares.
- SmartRent shares opened at $1.35 and were down 1.8%; the company recently reported a quarterly loss of $0.03 per share and revenue of $38.39 million, both below analyst expectations.
- Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $1.20 price target. Institutional investors own approximately 59.42% of the company.
SmartRent, Inc. (NYSE:SMRT - Get Free Report) Director Thomas Bohjalian purchased 15,000 shares of SmartRent stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $20,400.00. Following the completion of the purchase, the director owned 781,062 shares of the company's stock, valued at $1,062,244.32. This trade represents a 1.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
SmartRent Trading Down 1.8%
Shares of SMRT stock opened at $1.35 on Friday. SmartRent, Inc. has a 12 month low of $0.91 and a 12 month high of $2.20. The stock has a market cap of $259.63 million, a PE ratio of -13.55 and a beta of 1.52. The company's fifty day moving average price is $1.14 and its 200-day moving average price is $1.35.
SmartRent (NYSE:SMRT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%.The business had revenue of $38.39 million during the quarter, compared to the consensus estimate of $39.62 million. On average, sell-side analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
SMRT has been the subject of a number of recent research reports. Weiss Ratings cut 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 target on 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 research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $1.20.
Check Out Our Latest Stock Analysis on SmartRent
Hedge Funds Weigh In On SmartRent
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMRT. LPL Financial LLC boosted its holdings in SmartRent by 60.9% in the fourth quarter. LPL Financial LLC now owns 37,000 shares of the company's stock worth $75,000 after purchasing an additional 14,000 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of SmartRent during the 4th quarter valued at $30,000. Invesco Ltd. boosted its stake in shares of SmartRent by 4.8% in the 4th quarter. Invesco Ltd. now owns 331,584 shares of the company's stock worth $670,000 after buying an additional 15,124 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of SmartRent by 111.3% in the fourth quarter. Squarepoint Ops LLC now owns 31,774 shares of the company's stock worth $64,000 after acquiring an additional 16,734 shares during the period. Finally, CTC Alternative Strategies Ltd. bought a new stake in shares of SmartRent in the first quarter worth $26,000. 59.42% of the stock is owned by institutional investors.
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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