SmartRent, Inc. (NYSE:SMRT) Director Frank Martell Buys 75,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director Frank Martell purchased 75,000 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $1.63 per share, with a total value of $122,250.00. Following the transaction, the director now directly owns 150,000 shares in the company, valued at $244,500. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

SmartRent Stock Down 4.2 %

SmartRent stock opened at $1.61 on Friday. The company has a market capitalization of $324.94 million, a P/E ratio of -10.73 and a beta of 1.97. The stock’s 50 day moving average is $1.97 and its 200 day moving average is $2.36. SmartRent, Inc. has a twelve month low of $1.35 and a twelve month high of $3.47.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). SmartRent had a negative net margin of 10.73% and a negative return on equity of 5.68%. The business had revenue of $48.52 million for the quarter, compared to analysts’ expectations of $51.33 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts expect that SmartRent, Inc. will post -0.09 EPS for the current year.

Analysts Set New Price Targets

SMRT has been the topic of a number of research analyst reports. Colliers Securities downgraded SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. BTIG Research downgraded SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods downgraded SmartRent from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $3.50 to $2.00 in a research note on Thursday, August 8th. DA Davidson downgraded 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 research note on Wednesday, July 31st. Finally, Cantor Fitzgerald downgraded SmartRent from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $2.00 in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.64.

Institutional Trading of SmartRent

Institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its stake in SmartRent by 38.5% during the 1st quarter. First Eagle Investment Management LLC now owns 1,389,680 shares of the company’s stock valued at $3,724,000 after purchasing an additional 386,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of SmartRent by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 20,244,087 shares of the company’s stock valued at $54,254,000 after buying an additional 386,845 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SmartRent by 12.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,786 shares of the company’s stock valued at $1,063,000 after buying an additional 44,611 shares during the period. Blue Door Asset Management LLC lifted its holdings in shares of SmartRent by 0.5% during the 4th quarter. Blue Door Asset Management LLC now owns 3,125,581 shares of the company’s stock valued at $9,971,000 after buying an additional 16,150 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of SmartRent by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after buying an additional 8,169 shares during the period. 59.42% of the stock is currently 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.