SmartRent (NYSE:SMRT) CEO Frank Martell Purchases 100,000 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 100,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was purchased at an average price of $1.88 per share, with a total value of $188,000.00. Following the acquisition, the chief executive officer owned 1,323,204 shares of the company’s stock, valued at approximately $2,487,623.52. This trade represents a 8.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, December 3rd, Frank Martell bought 27,722 shares of SmartRent stock. The shares were purchased at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was 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 shares were acquired at an average cost of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The shares were bought at an average price of $1.44 per share, with a total value 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 bought 50,000 shares of SmartRent stock. The shares were bought at an average cost of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were bought at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Stock Performance

SMRT traded up $0.06 during trading on Thursday, reaching $1.88. The company had a trading volume of 2,161,959 shares, compared to its average volume of 1,629,574. The firm’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $1.26. The company has a market cap of $354.75 million, a price-to-earnings ratio of -5.21 and a beta of 1.82. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $1.93.

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

Wall Street Analyst Weigh In

SMRT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a report on Monday. Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. 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.com, SmartRent has a consensus rating of “Reduce” and an average price target of $1.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Steinberganna Wealth Management bought a new stake in SmartRent during the third quarter worth approximately $25,000. Kanen Wealth Management LLC acquired a new stake in shares of SmartRent in the third quarter worth $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of SmartRent during the 2nd quarter worth $27,000. Pallas Capital Advisors LLC grew its stake in SmartRent by 128.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock valued at $30,000 after buying an additional 17,312 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in SmartRent in the 2nd quarter valued at $42,000. 59.42% of the stock is owned by institutional investors.

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.