SmartRent (NYSE:SMRT) Director Thomas Bohjalian Acquires 75,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian acquired 75,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were purchased at an average price of $1.11 per share, for a total transaction of $83,250.00. Following the completion of the transaction, the director owned 721,062 shares in the company, valued at approximately $800,378.82. This represents a 11.61% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

SmartRent Stock Performance

NYSE SMRT opened at $1.10 on Thursday. SmartRent, Inc. has a twelve month low of $0.85 and a twelve month high of $2.20. The stock has a market cap of $211.16 million, a price-to-earnings ratio of -8.42 and a beta of 1.53. The firm’s 50 day moving average price is $1.31 and its two-hundred day moving average price is $1.61.

SmartRent (NYSE:SMRT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $36.82 million. On average, research analysts forecast that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SMRT shares. Weiss Ratings lowered shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods decreased their target price on shares of SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SmartRent presently has an average rating of “Reduce” and an average price target of $1.40.

Institutional Investors Weigh In On SmartRent

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its stake in shares of SmartRent by 33.3% during the 3rd quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after buying an additional 3,915,817 shares during the period. Northern Right Capital Management L.P. acquired a new stake in shares of SmartRent during the 3rd quarter valued at $3,739,000. Mak Capital One LLC bought a new position in shares of SmartRent during the 3rd quarter valued at $4,038,000. Royce & Associates LP raised its holdings in shares of SmartRent by 58.0% during the 3rd quarter. Royce & Associates LP now owns 1,369,571 shares of the company’s stock valued at $1,931,000 after purchasing an additional 502,994 shares in the last quarter. Finally, Mozayyx Management LLC bought a new position in shares of SmartRent during the 4th quarter valued at $81,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

About SmartRent

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.