SmartRent, Inc. (NYSE:SMRT) CEO Purchases $49,999.26 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin acquired 43,859 shares of SmartRent stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $1.14 per share, with a total value of $49,999.26. Following the completion of the purchase, the chief executive officer now owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SmartRent Trading Up 9.7 %

Shares of SMRT stock opened at $1.19 on Friday. The stock has a 50 day moving average of $1.45 and a 200 day moving average of $1.61. The stock has a market cap of $228.35 million, a P/E ratio of -9.12 and a beta of 1.92. SmartRent, Inc. has a twelve month low of $1.07 and a twelve month 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 for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $35.37 million for the quarter, compared to analysts’ expectations of $37.78 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The firm’s revenue was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, research analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in SmartRent during the third quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SmartRent in the fourth quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SmartRent in the third quarter valued at approximately $30,000. Avior Wealth Management LLC purchased a new stake in shares of SmartRent in the fourth quarter valued at approximately $31,000. Finally, Cibc World Markets Corp purchased a new stake in shares of SmartRent in the fourth quarter valued at approximately $31,000. 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.