SmartRent (NYSE:SMRT) CEO Frank Martell Purchases 56,236 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 56,236 shares of the business’s stock in a transaction on Friday, November 21st. The shares were purchased at an average price of $1.44 per share, for a total transaction of $80,979.84. Following the purchase, the chief executive officer directly owned 1,048,204 shares of the company’s stock, valued at $1,509,413.76. This represents a 5.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, November 20th, Frank Martell purchased 93,764 shares of SmartRent stock. The stock was purchased at an average price of $1.47 per share, with a total value of $137,833.08.
• On Monday, September 15th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were purchased at an average cost of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The shares were purchased at an average price of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Trading Up 1.0%

SmartRent stock traded up $0.02 during mid-day trading on Friday, reaching $1.46. The company’s stock had a trading volume of 542,862 shares, compared to its average volume of 649,867. SmartRent, Inc. has a twelve month low of $0.67 and a twelve month high of $1.99. 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 cap of $275.29 million, a price-to-earnings ratio of -4.04 and a beta of 1.84.

SmartRent (NYSE:SMRT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The company had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36.27 million. On average, equities analysts expect that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On SmartRent

A number of hedge funds and other institutional investors have recently modified their holdings of SMRT. Jacobs Levy Equity Management Inc. grew its position in SmartRent by 242.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,160,066 shares of the company’s stock valued at $3,046,000 after buying an additional 1,529,677 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of SmartRent by 176.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 119,240 shares of the company’s stock worth $168,000 after acquiring an additional 76,046 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of SmartRent by 23.7% in the third quarter. Public Employees Retirement System of Ohio now owns 177,733 shares of the company’s stock valued at $251,000 after acquiring an additional 34,053 shares in the last quarter. Northern Right Capital Management L.P. bought a new position in shares of SmartRent in the third quarter valued at approximately $3,739,000. Finally, Mak Capital One LLC acquired a new position in shares of SmartRent during the third quarter valued at approximately $4,038,000. 59.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SMRT. Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SmartRent in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.45.

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.