Frank Martell Purchases 20,000 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $1.19 per share, with a total value of $23,800.00. Following the completion of the transaction, the chief executive officer owned 3,185,266 shares of the company’s stock, valued at $3,790,466.54. This represents a 0.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, June 5th, Frank Martell bought 40,260 shares of SmartRent stock. The shares were acquired at an average cost of $1.13 per share, with a total value of $45,493.80.
• On Tuesday, May 12th, Frank Martell bought 100,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.18 per share, with a total value of $118,000.00.
• On Friday, May 8th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.12 per share, with a total value of $56,000.00.

SmartRent Price Performance

NYSE:SMRT opened at $1.10 on Friday. The firm has a 50-day moving average of $1.33 and a 200-day moving average of $1.62. The company has a market cap of $211.16 million, a PE ratio of -8.42 and a beta of 1.53. SmartRent, Inc. has a one year low of $0.85 and a one year high of $2.20.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. The company had revenue of $36.63 million during the quarter, compared to the consensus estimate of $36.82 million. On average, equities research analysts expect that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SMRT has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reduced their price objective on shares of SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a research report on Monday, May 18th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $1.40.

Institutional Investors Weigh In On SmartRent

Institutional investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. bought a new stake in SmartRent in the 1st quarter worth about $26,000. Kanen Wealth Management LLC purchased a new position in SmartRent in the third quarter valued at about $26,000. Neuberger Berman Group LLC purchased a new position in SmartRent in the fourth quarter valued at about $30,000. SummitTX Capital L.P. purchased a new position in SmartRent in the first quarter valued at about $34,000. Finally, Dean Jacobson Financial Services LLC purchased a new position in SmartRent in the fourth quarter valued at about $35,000. 59.42% of the stock is owned by institutional investors.

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.