Insider Buying: SmartRent (NYSE:SMRT) CEO Purchases 28,846 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 28,846 shares of the stock in a transaction on Tuesday, December 2nd. The shares were bought at an average cost of $1.69 per share, with a total value of $48,749.74. Following the purchase, the chief executive officer owned 1,195,482 shares of the company’s stock, valued at $2,020,364.58. This trade represents a 2.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 1st, Frank Martell acquired 18,432 shares of SmartRent stock. The stock was bought at an average price of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The stock was purchased at an average price of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were purchased at an average cost of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were acquired at an average price of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Stock Up 2.1%

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

SmartRent (NYSE:SMRT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, topping 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 business had revenue of $36.20 million during the quarter, compared to analysts’ expectations of $36.27 million. Sell-side analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SmartRent in a research report on Monday. Wall Street Zen raised SmartRent from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded shares of SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Three equities research 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 presently has a consensus rating of “Reduce” and a consensus price target of $1.45.

Institutional Trading of SmartRent

A number of institutional investors have recently bought and sold shares of the company. Steinberganna Wealth Management acquired a new stake in SmartRent during the third quarter worth $25,000. Kanen Wealth Management LLC acquired a new position in shares of SmartRent in the third quarter valued at $26,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of SmartRent during the 2nd quarter worth approximately $27,000. Franklin Resources Inc. acquired a new stake in shares of SmartRent in the 3rd quarter valued at $43,000. Finally, Pallas Capital Advisors LLC boosted its stake 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 valued at $30,000 after purchasing an additional 17,312 shares in the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

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.