SmartRent (NYSE:SMRT) Director Thomas Bohjalian Purchases 50,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian purchased 50,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were bought at an average price of $1.68 per share, for a total transaction of $84,000.00. Following the acquisition, the director owned 350,000 shares of the company’s stock, valued at approximately $588,000. The trade was a 16.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SmartRent Trading Up 2.1%

NYSE:SMRT opened at $1.72 on Wednesday. The firm has a market capitalization of $324.48 million, a PE ratio of -4.76 and a beta of 1.82. SmartRent, Inc. has a 1 year low of $0.67 and a 1 year high of $1.90. The firm’s fifty day simple moving average is $1.48 and its 200 day simple moving average is $1.26.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $36.27 million. As a group, analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

SMRT has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a report on Monday. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $1.45.

Institutional Investors Weigh In On SmartRent

A number of institutional investors have recently bought and sold shares of SMRT. Steinberganna Wealth Management acquired a new position in shares of SmartRent in the 3rd quarter valued at $25,000. Kanen Wealth Management LLC bought a new stake in SmartRent in the third quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC acquired a new position in SmartRent in the second quarter worth about $27,000. Pallas Capital Advisors LLC raised its position in SmartRent by 128.5% in the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Jump Financial LLC bought a new position in SmartRent during the second quarter worth about $42,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

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.