Frank Martell Purchases 18,432 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 18,432 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $31,150.08. Following the purchase, the chief executive officer directly owned 1,166,636 shares in the company, valued at $1,971,614.84. This trade represents a 1.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The stock was acquired at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The stock was acquired 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 acquired at an average price of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell acquired 50,000 shares of SmartRent stock. The stock was acquired at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Price Performance

SMRT traded up $0.04 during trading on Tuesday, reaching $1.72. The company had a trading volume of 569,139 shares, compared to its average volume of 1,627,204. SmartRent, Inc. has a 12 month low of $0.67 and a 12 month high of $1.90. The business’s fifty day moving average price is $1.47 and its 200 day moving average price is $1.25. The company has a market cap of $324.48 million, a P/E ratio of -4.76 and a beta of 1.81.

SmartRent (NYSE:SMRT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $36.20 million during 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%. As a group, sell-side analysts predict that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of SmartRent

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in SmartRent in the first quarter valued at approximately $300,000. Nuveen LLC acquired a new stake in shares of SmartRent in the 1st quarter valued at approximately $498,000. Pallas Capital Advisors LLC boosted its holdings in shares of 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. Y Intercept Hong Kong Ltd bought a new position in shares of SmartRent in the second quarter valued at $266,000. Finally, Public Employees Retirement System of Ohio increased its holdings in SmartRent by 1,230.2% during the second quarter. Public Employees Retirement System of Ohio now owns 143,680 shares of the company’s stock worth $142,000 after buying an additional 132,879 shares during the last quarter. Institutional investors own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SMRT has been the topic of several recent research reports. Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a report on Monday. Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Keefe, Bruyette & Woods upped their price target on SmartRent from $1.30 to $1.45 and gave the stock 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 stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $1.45.

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.