SmartRent (NYSE:SMRT) CEO Purchases $51,562.92 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 27,722 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were bought at an average price of $1.86 per share, with a total value of $51,562.92. Following the completion of the acquisition, the chief executive officer directly owned 1,223,204 shares in the company, valued at $2,275,159.44. This trade represents a 2.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, December 4th, Frank Martell acquired 100,000 shares of SmartRent stock. The stock was bought at an average price of $1.88 per share, with a total value of $188,000.00.
• On Tuesday, December 2nd, Frank Martell acquired 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 bought 18,432 shares of SmartRent stock. The stock was purchased at an average price of $1.69 per share, for a total transaction of $31,150.08.
• On Friday, November 21st, Frank Martell bought 56,236 shares of SmartRent stock. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell purchased 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.
• 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, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The stock was purchased at an average price of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Stock Up 3.0%

Shares of NYSE:SMRT traded up $0.06 during midday trading on Thursday, hitting $1.88. 2,162,536 shares of the stock traded hands, compared to its average volume of 1,629,574. The business’s 50 day moving average is $1.48 and its two-hundred day moving average is $1.26. The stock has a market capitalization of $354.75 million, a PE ratio of -5.21 and a beta of 1.82. SmartRent, Inc. has a one year low of $0.67 and a one year high of $1.93.

SmartRent (NYSE:SMRT) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $36.27 million. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%. As a group, sell-side analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On SmartRent

Several institutional investors and hedge funds have recently modified their holdings of SMRT. Steinberganna Wealth Management purchased a new stake in SmartRent during the 3rd quarter valued at about $25,000. Kanen Wealth Management LLC purchased a new stake in shares of SmartRent during the third quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of SmartRent during the second quarter valued at approximately $27,000. Franklin Resources Inc. bought a new stake in shares of SmartRent during the third quarter valued at approximately $43,000. Finally, Pallas Capital Advisors LLC raised its holdings in SmartRent by 128.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after acquiring an additional 17,312 shares during the last quarter. 59.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted 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. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a report on Monday. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus 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.