SmartRent (NYSE:SMRT) CEO Acquires $51,750.00 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell acquired 25,000 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $2.07 per share, with a total value of $51,750.00. Following the completion of the purchase, the chief executive officer owned 2,038,796 shares in the company, valued at $4,220,307.72. This represents a 1.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, December 5th, Frank Martell purchased 124,086 shares of SmartRent stock. The stock was purchased at an average cost of $1.91 per share, for a total transaction of $237,004.26.
• On Thursday, December 4th, Frank Martell acquired 100,000 shares of SmartRent stock. The stock was purchased at an average cost of $1.88 per share, with a total value of $188,000.00.
• On Wednesday, December 3rd, Frank Martell acquired 27,722 shares of SmartRent stock. The stock was purchased at an average price of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $48,749.74.
• On Monday, December 1st, Frank Martell bought 18,432 shares of SmartRent stock. The stock was acquired at an average price of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were acquired 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 acquired at an average cost of $1.53 per share, for a total transaction of $76,500.00.

SmartRent Stock Up 1.2%

Shares of SmartRent stock traded up $0.03 on Friday, hitting $2.07. 1,831,112 shares of the company were exchanged, compared to its average volume of 1,626,856. The company has a 50-day moving average price of $1.55 and a 200 day moving average price of $1.31. The stock has a market capitalization of $390.70 million, a price-to-earnings ratio of -5.74 and a beta of 1.82. SmartRent, Inc. has a 1-year low of $0.67 and a 1-year high of $2.15.

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

Wall Street Analyst Weigh In

SMRT has been the topic of several analyst reports. Wall Street Zen raised shares of SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SmartRent in a research report on Monday, December 1st. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $1.45.

Hedge Funds Weigh In On SmartRent

A number of hedge funds have recently made changes to their positions in the stock. Pallas Capital Advisors LLC increased 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 valued at $30,000 after purchasing an additional 17,312 shares during the last quarter. Steinberganna Wealth Management acquired a new position in SmartRent during the third quarter worth $25,000. Kanen Wealth Management LLC purchased a new position in shares of SmartRent during the third quarter worth $26,000. Bank of America Corp DE grew its stake in shares of SmartRent by 5.4% in the third quarter. Bank of America Corp DE now owns 375,557 shares of the company’s stock valued at $530,000 after buying an additional 19,373 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of SmartRent by 65.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 57,179 shares of the company’s stock valued at $57,000 after buying an additional 22,582 shares during the period. 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.