SmartRent (NYSE:SMRT) CEO Purchases $142,000.00 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell purchased 100,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $1.42 per share, with a total value of $142,000.00. Following the transaction, the chief executive officer directly owned 3,672,086 shares of the company’s stock, valued at $5,214,362.12. This represents a 2.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, June 5th, Frank Martell acquired 40,260 shares of SmartRent stock. The stock was bought at an average price of $1.13 per share, for a total transaction of $45,493.80.
• On Thursday, June 4th, Frank Martell acquired 20,000 shares of SmartRent stock. The shares were bought at an average price of $1.19 per share, with a total value of $23,800.00.

SmartRent Price Performance

NYSE:SMRT traded up $0.07 on Tuesday, reaching $1.43. The stock had a trading volume of 1,346,611 shares, compared to its average volume of 1,471,279. 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 $273.04 million, a price-to-earnings ratio of -14.25 and a beta of 1.52. The firm’s fifty day moving average is $1.10 and its two-hundred day moving average is $1.37.

SmartRent (NYSE:SMRT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million. As a group, research analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SmartRent

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC increased its holdings in shares of SmartRent by 60.9% in the 4th quarter. LPL Financial LLC now owns 37,000 shares of the company’s stock worth $75,000 after acquiring an additional 14,000 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of SmartRent in the fourth quarter valued at approximately $30,000. Invesco Ltd. raised its holdings in shares of SmartRent by 4.8% during the fourth quarter. Invesco Ltd. now owns 331,584 shares of the company’s stock valued at $670,000 after buying an additional 15,124 shares during the last quarter. Squarepoint Ops LLC raised its stake in SmartRent by 111.3% during the 4th quarter. Squarepoint Ops LLC now owns 31,774 shares of the company’s stock valued at $64,000 after acquiring an additional 16,734 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new position in SmartRent during the 1st quarter worth $26,000. Institutional investors own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings lowered SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on SmartRent from $1.40 to $1.20 and set a “market perform” rating on the stock in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.20.

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.