SmartRent (NYSE:SMRT) CEO Frank Martell Acquires 100,000 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 100,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $1.18 per share, with a total value of $118,000.00. Following the acquisition, the chief executive officer directly owned 3,165,266 shares of the company’s stock, valued at approximately $3,735,013.88. This represents a 3.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, May 8th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.12 per share, with a total value of $56,000.00.

SmartRent Stock Down 2.2%

SmartRent stock opened at $1.12 on Thursday. SmartRent, Inc. has a 52-week low of $0.74 and a 52-week high of $2.20. The company has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.64. The firm has a market capitalization of $215.02 million, a price-to-earnings ratio of -8.58 and a beta of 1.57.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). SmartRent had a negative net margin of 16.58% and a negative return on equity of 10.61%. The firm had revenue of $36.63 million during the quarter, compared to analyst estimates of $36.82 million. On average, research analysts anticipate that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $1.45.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kanen Wealth Management LLC purchased a new position in SmartRent during the third quarter worth about $26,000. Neuberger Berman Group LLC purchased a new position in SmartRent during the fourth quarter worth about $30,000. Dean Jacobson Financial Services LLC purchased a new position in SmartRent during the fourth quarter worth about $35,000. Oppenheimer Asset Management Inc. purchased a new position in SmartRent during the fourth quarter worth about $39,000. Finally, Jump Financial LLC purchased a new position in SmartRent during the second quarter worth about $42,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

SmartRent Company Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.