SmartRent, Inc. (NYSE:SMRT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of SmartRent, Inc. (NYSE:SMRT) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.89.

SMRT has been the subject of a number of recent analyst reports. Colliers Securities downgraded shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday. BTIG Research cut their price target on shares of SmartRent from $4.30 to $4.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Finally, DA Davidson downgraded shares of SmartRent from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.25 to $2.00 in a report on Wednesday.

SmartRent Price Performance

SMRT opened at $1.93 on Wednesday. The company’s 50 day simple moving average is $2.39 and its two-hundred day simple moving average is $2.61. SmartRent has a 1-year low of $1.80 and a 1-year high of $4.01. The firm has a market capitalization of $389.53 million, a price-to-earnings ratio of -12.87 and a beta of 1.98.

SmartRent (NYSE:SMRT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $50.49 million during the quarter, compared to the consensus estimate of $51.43 million. SmartRent had a negative net margin of 13.08% and a negative return on equity of 7.28%. On average, equities analysts anticipate that SmartRent will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SmartRent

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in SmartRent by 30.7% in the fourth quarter. Victory Capital Management Inc. now owns 22,428 shares of the company’s stock valued at $72,000 after acquiring an additional 5,264 shares during the last quarter. Virtu Financial LLC purchased a new stake in SmartRent in the first quarter valued at $84,000. Price T Rowe Associates Inc. MD lifted its position in SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after acquiring an additional 8,169 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in SmartRent by 104.3% in the second quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock valued at $169,000 after acquiring an additional 36,123 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in SmartRent in the fourth quarter valued at $214,000. 59.42% of the stock is owned by hedge funds and other institutional investors.

SmartRent Company Profile

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.