SmartRent (NYSE:SMRT) CEO Purchases $188,000.00 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were acquired at an average price of $1.88 per share, with a total value of $188,000.00. Following the purchase, the chief executive officer owned 1,323,204 shares in the company, valued at $2,487,623.52. This trade represents a 8.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, December 3rd, Frank Martell purchased 27,722 shares of SmartRent stock. The stock was acquired at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The shares were acquired 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 stock was acquired at an average cost of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 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 cost of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were bought at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell purchased 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Stock Performance

Shares of NYSE:SMRT traded up $0.06 on Thursday, hitting $1.88. 2,161,959 shares of the company were exchanged, compared to its average volume of 1,629,574. The company’s 50 day moving average price is $1.48 and its two-hundred day moving average price is $1.26. SmartRent, Inc. has a one year low of $0.67 and a one year high of $1.93. The firm has a market capitalization of $354.75 million, a price-to-earnings ratio of -5.21 and a beta of 1.82.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. The business had revenue of $36.20 million during the quarter, compared to analysts’ expectations of $36.27 million. Research analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On SmartRent

Institutional investors and hedge funds have recently bought and sold shares of the business. Steinberganna Wealth Management bought a new stake in shares of SmartRent during the third quarter worth $25,000. Kanen Wealth Management LLC acquired a new stake in SmartRent in the 3rd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in SmartRent in the 2nd quarter valued at about $27,000. Franklin Resources Inc. bought a new position in shares of SmartRent in the third quarter worth about $43,000. Finally, Pallas Capital Advisors LLC lifted its position in shares of SmartRent by 128.5% during the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after purchasing an additional 17,312 shares in the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.