SmartRent (NYSE:SMRT) CEO Frank Martell Buys 18,432 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 18,432 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were bought at an average price of $1.69 per share, with a total value of $31,150.08. Following the completion of the purchase, the chief executive officer owned 1,166,636 shares in the company, valued at $1,971,614.84. The trade was a 1.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The shares were purchased at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The stock was purchased at an average cost 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 purchased at an average cost of $1.47 per share, with a total value of $137,833.08.
• On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The stock was purchased 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 purchased at an average price of $1.44 per share, for a total transaction of $72,000.00.

SmartRent Trading Up 2.1%

Shares of NYSE SMRT opened at $1.72 on Wednesday. SmartRent, Inc. has a 12-month low of $0.67 and a 12-month high of $1.90. The company has a market cap of $324.48 million, a PE ratio of -4.76 and a beta of 1.82. The stock has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $1.26.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $36.27 million. Sell-side analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of SmartRent from $1.30 to $1.45 and gave the company 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 report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research note on Monday. Finally, Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $1.45.

Institutional Trading of SmartRent

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMRT. CWM LLC grew its position in SmartRent by 944.4% in the first quarter. CWM LLC now owns 37,746 shares of the company’s stock worth $46,000 after buying an additional 34,132 shares during the last quarter. Nuveen LLC purchased a new position in SmartRent in the 1st quarter worth about $498,000. Algert Global LLC purchased a new stake in shares of SmartRent in the 1st quarter valued at approximately $133,000. Crossingbridge Advisors LLC boosted its stake in SmartRent by 15.4% in the 1st quarter. Crossingbridge Advisors LLC now owns 375,000 shares of the company’s stock worth $420,000 after purchasing an additional 50,000 shares during the period. Finally, Ieq Capital LLC acquired a new stake in SmartRent during the 1st quarter valued at $113,000. 59.42% of the stock is owned by institutional investors and hedge funds.

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.