Colliers Securities Lowers SmartRent (NYSE:SMRT) to Neutral

Colliers Securities lowered shares of SmartRent (NYSE:SMRT) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

A number of other brokerages have also recently weighed in on SMRT. BTIG Research decreased their price target on shares of SmartRent from $4.30 to $4.00 and set a buy rating for the company in a research report on Monday, June 3rd. DA Davidson downgraded SmartRent from a buy rating to a neutral rating and decreased their target price for the stock from $3.25 to $2.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $3.64.

SmartRent Price Performance

SmartRent stock opened at $1.71 on Wednesday. The company has a market cap of $345.13 million, a price-to-earnings ratio of -11.37 and a beta of 1.98. SmartRent has a 12 month low of $1.65 and a 12 month high of $3.88. The stock’s 50-day moving average is $2.34 and its 200-day moving average is $2.59.

SmartRent (NYSE:SMRT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $50.49 million for the quarter, compared to analyst estimates of $51.43 million. SmartRent had a negative net margin of 13.08% and a negative return on equity of 7.28%. Research analysts anticipate that SmartRent will post -0.06 EPS for the current year.

Hedge Funds Weigh In On SmartRent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of SmartRent by 4.8% in the third quarter. Vanguard Group Inc. now owns 19,143,749 shares of the company’s stock worth $49,965,000 after acquiring an additional 879,518 shares in the last quarter. SG Americas Securities LLC increased its holdings in SmartRent by 104.2% during the 4th quarter. SG Americas Securities LLC now owns 87,429 shares of the company’s stock worth $279,000 after purchasing an additional 44,613 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of SmartRent in the 4th quarter valued at approximately $304,000. Brighton Jones LLC purchased a new position in shares of SmartRent during the 4th quarter valued at approximately $214,000. Finally, Victory Capital Management Inc. grew its position in shares of SmartRent by 30.7% during the fourth quarter. Victory Capital Management Inc. now owns 22,428 shares of the company’s stock worth $72,000 after buying an additional 5,264 shares in the last quarter. 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.