SmartRent, Inc. (NYSE:SMRT) Director Buys $150,000.00 in Stock

SmartRent, Inc. (NYSE:SMRT) Director John C. Dorman purchased 125,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $1.20 per share, with a total value of $150,000.00. Following the purchase, the director now owns 229,965 shares of the company’s stock, valued at approximately $275,958. This represents a 119.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SmartRent Stock Up 3.1 %

NYSE SMRT opened at $1.16 on Thursday. SmartRent, Inc. has a 52 week low of $1.09 and a 52 week high of $2.98. The firm has a 50 day moving average of $1.47 and a two-hundred day moving average of $1.61. The stock has a market capitalization of $222.57 million, a PE ratio of -8.88 and a beta of 1.92.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The firm had revenue of $35.37 million for the quarter, compared to analyst estimates of $37.78 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business’s revenue for the quarter was down 41.3% on a year-over-year basis. On average, equities research analysts expect that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their target price on SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.40.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in SmartRent during the third quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd acquired a new stake in SmartRent during the fourth quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SmartRent during the 3rd quarter worth approximately $30,000. Avior Wealth Management LLC purchased a new stake in shares of SmartRent during the 4th quarter worth approximately $31,000. Finally, Cibc World Markets Corp acquired a new position in shares of SmartRent in the 4th quarter valued at $31,000. Hedge funds and other institutional investors 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.