SmartRent (NYSE:SMRT) CEO Frank Martell Purchases 25,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 25,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average cost of $2.07 per share, with a total value of $51,750.00. Following the purchase, the chief executive officer directly owned 2,038,796 shares of the company’s stock, valued at $4,220,307.72. The trade was a 1.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Frank Martell also recently made the following trade(s):

• On Friday, December 5th, Frank Martell purchased 124,086 shares of SmartRent stock. The shares were purchased at an average cost of $1.91 per share, for a total transaction of $237,004.26.
• On Thursday, December 4th, Frank Martell purchased 100,000 shares of SmartRent stock. The shares were acquired at an average price of $1.88 per share, with a total value of $188,000.00.
• On Wednesday, December 3rd, Frank Martell acquired 27,722 shares of SmartRent stock. The stock was acquired at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The shares were acquired at an average price of $1.69 per share, for a total transaction of $48,749.74.
• On Monday, December 1st, Frank Martell bought 18,432 shares of SmartRent stock. The stock was acquired at an average price of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were bought at an average cost of $1.47 per share, with a total value of $137,833.08.
• On Monday, September 15th, Frank Martell acquired 50,000 shares of SmartRent stock. The stock was bought at an average price of $1.53 per share, with a total value of $76,500.00.

SmartRent Stock Up 1.2%

Shares of NYSE SMRT opened at $2.07 on Friday. The company’s fifty day simple moving average is $1.56 and its 200 day simple moving average is $1.32. The firm has a market cap of $390.70 million, a PE ratio of -5.74 and a beta of 1.82. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $2.15.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36.27 million. On average, equities analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of SmartRent

Institutional investors have recently made changes to their positions in the stock. Steinberganna Wealth Management purchased a new position in shares of SmartRent during the 3rd quarter worth $25,000. Kanen Wealth Management LLC bought a new position in SmartRent in the 3rd quarter worth $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in SmartRent during the second quarter valued at $27,000. Pallas Capital Advisors LLC grew its holdings in SmartRent by 128.5% during the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock valued at $30,000 after purchasing an additional 17,312 shares during the period. Finally, Jump Financial LLC purchased a new stake in SmartRent in the second quarter worth about $42,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMRT. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research report on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $1.45.

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.