Insider Buying: SmartRent (NYSE:SMRT) CEO Buys 30,534 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 30,534 shares of SmartRent stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $2.06 per share, for a total transaction of $62,900.04. Following the purchase, the chief executive officer owned 2,094,330 shares of the company’s stock, valued at approximately $4,314,319.80. This trade represents a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, December 16th, Frank Martell purchased 19,466 shares of SmartRent stock. The stock was bought at an average price of $2.07 per share, for a total transaction of $40,294.62.
• On Thursday, December 11th, Frank Martell purchased 25,000 shares of SmartRent stock. The stock was bought at an average cost of $2.07 per share, for a total transaction of $51,750.00.
• On Friday, December 5th, Frank Martell acquired 124,086 shares of SmartRent stock. The stock was bought at an average cost of $1.91 per share, with a total value of $237,004.26.
• On Thursday, December 4th, Frank Martell bought 100,000 shares of SmartRent stock. The stock was bought at an average price of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell bought 27,722 shares of SmartRent stock. The shares were bought at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The shares were bought at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell acquired 18,432 shares of SmartRent stock. The stock was purchased at an average cost of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The shares were purchased at an average price of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell bought 93,764 shares of SmartRent stock. The shares were purchased at an average cost of $1.47 per share, with a total value of $137,833.08.

SmartRent Price Performance

Shares of SMRT stock traded up $0.02 during mid-day trading on Tuesday, hitting $2.07. The stock had a trading volume of 1,689,241 shares, compared to its average volume of 1,628,435. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $2.20. The firm’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.33. The firm has a market capitalization of $390.70 million, a P/E ratio of -5.74 and a beta of 1.81.

SmartRent (NYSE:SMRT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%.The firm had revenue of $36.20 million during the quarter, compared to the consensus estimate of $36.27 million. Analysts expect that SmartRent, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Nuveen LLC purchased a new stake in SmartRent during the first quarter valued at approximately $498,000. Algert Global LLC acquired a new position in shares of SmartRent during the first quarter worth $133,000. Crossingbridge Advisors LLC lifted its holdings in shares of SmartRent by 15.4% during the 1st quarter. Crossingbridge Advisors LLC now owns 375,000 shares of the company’s stock valued at $420,000 after purchasing an additional 50,000 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of SmartRent in the 1st quarter worth $113,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of SmartRent in the 1st quarter worth $300,000. Institutional investors own 59.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of SmartRent in a research note on Monday. Finally, Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Three 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, SmartRent 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.