SmartRent, Inc. (NYSE:SMRT) Director John C. Dorman Acquires 125,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director John C. Dorman acquired 125,000 shares of SmartRent stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now owns 229,965 shares in the company, valued at approximately $275,958. The trade was a 119.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SmartRent Stock Performance

Shares of SmartRent stock traded down $0.03 on Tuesday, reaching $1.14. 2,205,676 shares of the company’s stock were exchanged, compared to its average volume of 1,398,497. The firm’s 50-day moving average is $1.50 and its two-hundred day moving average is $1.62. The company has a market capitalization of $218.72 million, a P/E ratio of -8.73 and a beta of 1.92. SmartRent, Inc. has a 52 week low of $1.09 and a 52 week high of $2.98.

SmartRent (NYSE:SMRT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The firm had revenue of $35.37 million during the quarter, compared to the consensus estimate of $37.78 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The firm’s revenue was down 41.3% on a year-over-year basis. On average, analysts expect that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut their price target on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, According to MarketBeat, SmartRent currently has an average rating of “Hold” and a consensus price target of $2.40.

Hedge Funds Weigh In On SmartRent

Several large investors have recently added to or reduced their stakes in SMRT. Citigroup Inc. increased its holdings in SmartRent by 27.2% during the 3rd quarter. Citigroup Inc. now owns 10,009,518 shares of the company’s stock worth $17,316,000 after purchasing an additional 2,138,797 shares in the last quarter. Clearline Capital LP boosted its position in shares of SmartRent by 788.5% during the third quarter. Clearline Capital LP now owns 2,242,696 shares of the company’s stock valued at $3,880,000 after buying an additional 1,990,285 shares during the last quarter. Caprock Group LLC bought a new stake in SmartRent during the third quarter worth $1,997,000. Royce & Associates LP raised its position in SmartRent by 64.2% in the 4th quarter. Royce & Associates LP now owns 1,283,325 shares of the company’s stock valued at $2,246,000 after buying an additional 501,890 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in SmartRent during the 4th quarter valued at $875,000. Institutional investors own 59.42% of the company’s stock.

About SmartRent

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.