SmartRent (NYSE:SMRT) Director Thomas Bohjalian Purchases 15,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian purchased 15,000 shares of the stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $20,400.00. Following the acquisition, the director owned 781,062 shares in the company, valued at approximately $1,062,244.32. This represents a 1.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

SmartRent Trading Down 1.8%

Shares of SMRT opened at $1.35 on Friday. SmartRent, Inc. has a 12-month low of $0.91 and a 12-month high of $2.20. The company has a market cap of $259.63 million, a PE ratio of -13.55 and a beta of 1.52. The stock has a 50-day moving average price of $1.14 and a 200-day moving average price of $1.35.

SmartRent (NYSE:SMRT) last announced its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). SmartRent had a negative net margin of 12.97% and a negative return on equity of 8.50%. The company had revenue of $38.39 million for the quarter, compared to the consensus estimate of $39.62 million. As a group, analysts predict that SmartRent, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on SMRT. Weiss Ratings lowered SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods lowered their price objective on shares of SmartRent from $1.40 to $1.20 and set a “market perform” rating for the company in a report on Monday, July 13th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, SmartRent currently has an average rating of “Reduce” and an average target price of $1.20.

Institutional Investors Weigh In On SmartRent

A number of large investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new position in SmartRent during the 1st quarter valued at about $26,000. Kanen Wealth Management LLC bought a new position in shares of SmartRent during the third quarter valued at approximately $26,000. Neuberger Berman Group LLC purchased a new stake in SmartRent in the fourth quarter worth $30,000. SummitTX Capital L.P. purchased a new position in SmartRent during the 1st quarter valued at $34,000. Finally, Dean Jacobson Financial Services LLC bought a new position in SmartRent in the 4th quarter worth $35,000. Institutional investors own 59.42% of the company’s stock.

About SmartRent

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.