Insider Buying: SmartRent (NYSE:SMRT) CEO Acquires 27,722 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 27,722 shares of SmartRent stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired 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 represents a 2.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, December 4th, Frank Martell purchased 100,000 shares of SmartRent stock. The shares were bought at an average cost of $1.88 per share, for a total transaction of $188,000.00.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was bought at an average price of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell acquired 18,432 shares of SmartRent stock. The shares were bought 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 bought at an average price of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell bought 93,764 shares of SmartRent stock. The shares were bought at an average price 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 stock was purchased at an average price of $1.53 per share, for a total transaction of $76,500.00.
• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The stock was purchased at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Price Performance

SmartRent stock traded up $0.06 during mid-day trading on Thursday, reaching $1.88. 2,162,536 shares of the stock traded hands, compared to its average volume of 1,629,574. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $1.93. The business’s 50-day moving average is $1.48 and its 200-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 (NYSE:SMRT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $36.27 million. Equities analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SMRT shares. Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a research report on Monday. Zacks Research raised shares of SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Wall Street Zen upgraded SmartRent from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Keefe, Bruyette & Woods raised their target price on SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $1.45.

Hedge Funds Weigh In On SmartRent

Large investors have recently added to or reduced their stakes in the company. Steinberganna Wealth Management bought a new position in shares of SmartRent in the third quarter worth approximately $25,000. Kanen Wealth Management LLC purchased a new position in shares of SmartRent during the 3rd quarter valued at $26,000. Vanguard Personalized Indexing Management LLC bought a new position in SmartRent in the 2nd quarter worth $27,000. Pallas Capital Advisors LLC boosted 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 buying an additional 17,312 shares during the period. Finally, Jump Financial LLC purchased a new stake in SmartRent in the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

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.