Ana Pinczuk Buys 107,000 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) Director Ana Pinczuk purchased 107,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $1.43 per share, with a total value of $153,010.00. Following the purchase, the director owned 385,704 shares of the company’s stock, valued at approximately $551,556.72. This represents a 38.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SmartRent Trading Up 1.8%

Shares of NYSE SMRT opened at $1.44 on Thursday. SmartRent, Inc. has a 12-month low of $0.91 and a 12-month high of $2.20. The stock has a market cap of $274.96 million, a P/E ratio of -14.35 and a beta of 1.52. The business’s fifty day simple moving average is $1.11 and its 200-day simple moving average is $1.36.

SmartRent (NYSE:SMRT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). SmartRent had a negative net margin of 12.97% and a negative return on equity of 8.50%. The company had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million. On average, equities analysts forecast that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On SmartRent

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP raised its holdings in SmartRent by 77.8% during the fourth quarter. Royce & Associates LP now owns 2,434,571 shares of the company’s stock worth $4,918,000 after purchasing an additional 1,065,000 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of SmartRent by 163.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 5,032,880 shares of the company’s stock valued at $7,549,000 after buying an additional 3,125,595 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of SmartRent in the 4th quarter valued at $4,463,000. SummitTX Capital L.P. purchased a new position in shares of SmartRent in the 1st quarter valued at $34,000. Finally, R Squared Ltd raised its stake in SmartRent by 67.1% during the 1st quarter. R Squared Ltd now owns 78,481 shares of the company’s stock worth $118,000 after acquiring an additional 31,503 shares in the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on SMRT shares. Weiss Ratings downgraded shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods decreased their price objective on shares of SmartRent from $1.40 to $1.20 and set a “market perform” rating for the company in a research report on Monday, July 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $1.20.

SmartRent Company Profile

SmartRent Inc is a technology company that develops smart home and smart building automation solutions for the residential rental housing industry. Its integrated hardware and software platform enables property managers and owners to remotely monitor, manage and control access, energy use and overall resident experience. The company’s product portfolio includes smart locks, thermostats, leak and flood sensors, door and window sensors, security cameras, and a centralized management dashboard that interfaces with leading property management systems.

SmartRent’s platform is designed to streamline operations for multifamily communities and single-family rental portfolios by automating routine tasks such as digital resident self-showings, remote lease turnovers, package management and preventative maintenance alerts.