SmartRent (NYSE:SMRT) Director Purchases $153,010.00 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Ana Pinczuk acquired 107,000 shares of SmartRent stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $1.43 per share, for a total transaction of $153,010.00. Following the completion of the acquisition, the director directly owned 385,704 shares in the company, valued at $551,556.72. This trade represents a 38.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SmartRent Stock Down 0.6%

Shares of NYSE SMRT opened at $1.44 on Friday. SmartRent, Inc. has a twelve month low of $0.91 and a twelve month high of $2.20. The firm has a market cap of $276.30 million, a PE ratio of -14.42 and a beta of 1.52. The business has a fifty day simple moving average of $1.11 and a two-hundred day simple moving average of $1.36.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SMRT. Neuberger Berman Group LLC bought a new stake in SmartRent during the fourth quarter valued at about $30,000. CTC Alternative Strategies Ltd. bought a new position in SmartRent in the first quarter worth about $26,000. Dean Jacobson Financial Services LLC purchased a new stake in shares of SmartRent during the fourth quarter valued at about $35,000. Kanen Wealth Management LLC purchased a new stake in shares of SmartRent during the third quarter valued at about $26,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of SmartRent in the 4th quarter valued at about $39,000. 59.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on SMRT shares. Weiss Ratings downgraded shares of 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 target on shares of SmartRent from $1.40 to $1.20 and set a “market perform” rating for the company in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $1.20.

SmartRent Company Profile

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.