SmartRent, Inc. (NYSE:SMRT) Director Acquires $117,274.65 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Bruce C. Strohm bought 41,149 shares of SmartRent stock in a transaction dated Friday, November 17th. The shares were bought at an average cost of $2.85 per share, for a total transaction of $117,274.65. Following the completion of the acquisition, the director now owns 182,561 shares in the company, valued at approximately $520,298.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

SmartRent Trading Down 0.3 %

SMRT stock traded down $0.01 during trading on Monday, hitting $2.92. The company had a trading volume of 695,715 shares, compared to its average volume of 1,176,956. The business has a 50-day moving average of $2.69 and a 200-day moving average of $3.21. SmartRent, Inc. has a one year low of $2.03 and a one year high of $4.12. The stock has a market cap of $593.21 million, a PE ratio of -11.00 and a beta of 1.93.

SmartRent (NYSE:SMRT) last posted its earnings results on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. SmartRent had a negative return on equity of 14.13% and a negative net margin of 24.26%. The company had revenue of $58.10 million for the quarter, compared to analyst estimates of $59.34 million. During the same quarter last year, the company earned ($0.13) earnings per share. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts forecast that SmartRent, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

SMRT has been the subject of a number of research analyst reports. Cantor Fitzgerald lowered their price target on SmartRent from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Morgan Stanley lowered their price target on SmartRent from $3.40 to $3.20 and set an “equal weight” rating for the company in a report on Wednesday, November 8th.

Institutional Trading of SmartRent

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in shares of SmartRent in the first quarter valued at approximately $215,000. Citigroup Inc. purchased a new position in shares of SmartRent in the 1st quarter worth about $175,000. Vanguard Group Inc. boosted its holdings in shares of SmartRent by 128.0% in the 1st quarter. Vanguard Group Inc. now owns 7,496,241 shares of the company’s stock worth $37,931,000 after buying an additional 4,207,723 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SmartRent by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 446,525 shares of the company’s stock worth $2,260,000 after buying an additional 11,145 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of SmartRent by 224.4% in the 1st quarter. Renaissance Technologies LLC now owns 100,900 shares of the company’s stock worth $511,000 after buying an additional 69,800 shares during the last quarter. Hedge funds and other institutional investors own 55.68% 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.