SmartRent (NYSE:SMRT) CEO Frank Martell Acquires 93,764 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 93,764 shares of SmartRent stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $137,833.08. Following the completion of the purchase, the chief executive officer owned 991,968 shares of the company’s stock, valued at approximately $1,458,192.96. The trade was a 10.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, November 21st, Frank Martell bought 56,236 shares of SmartRent stock. The shares were acquired at an average price of $1.44 per share, with a total value of $80,979.84.
• On Monday, September 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was bought at an average price of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Stock Up 1.0%

Shares of SmartRent stock traded up $0.02 during trading on Friday, reaching $1.46. 542,862 shares of the company were exchanged, compared to its average volume of 1,643,200. The business has a 50-day moving average price of $1.46 and a 200-day moving average price of $1.21. The firm has a market capitalization of $275.29 million, a price-to-earnings ratio of -4.04 and a beta of 1.84. SmartRent, Inc. has a twelve month low of $0.67 and a twelve month high of $1.99.

SmartRent (NYSE:SMRT) last released its earnings results 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 for the quarter, compared to analyst estimates of $36.27 million. On average, equities research analysts forecast that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMRT. Keefe, Bruyette & Woods lifted their price objective on shares of SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a research note on Tuesday, August 12th. 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 report on Monday. Finally, Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SmartRent presently has a consensus rating of “Reduce” and an average price target of $1.45.

Hedge Funds Weigh In On SmartRent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMRT. Cubist Systematic Strategies LLC acquired a new stake in shares of SmartRent in the 1st quarter valued at about $300,000. Nuveen LLC acquired a new position in shares of SmartRent during the first quarter worth about $498,000. Pallas Capital Advisors LLC grew its holdings in shares of SmartRent by 128.5% during the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after buying an additional 17,312 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in SmartRent in the 2nd quarter valued at approximately $266,000. Finally, Public Employees Retirement System of Ohio lifted its stake in SmartRent by 1,230.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 143,680 shares of the company’s stock valued at $142,000 after acquiring an additional 132,879 shares in the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

SmartRent Company Profile

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.