SmartRent (NYSE:SMRT) Director Thomas Bohjalian Acquires 40,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the completion of the transaction, the director directly owned 766,062 shares in the company, valued at approximately $1,072,486.80. This trade represents a 5.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SmartRent Price Performance

SmartRent stock opened at $1.35 on Friday. The company has a market cap of $259.63 million, a price-to-earnings ratio of -13.55 and a beta of 1.52. SmartRent, Inc. has a 12 month low of $0.91 and a 12 month high of $2.20. The stock’s 50-day moving average is $1.14 and its 200-day moving average is $1.35.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods decreased their target price on SmartRent from $1.40 to $1.20 and set a “market perform” rating for the company in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SmartRent currently has an average rating of “Reduce” and a consensus price target of $1.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMRT. CTC Alternative Strategies Ltd. acquired a new stake in shares of SmartRent during the first quarter worth approximately $26,000. Kanen Wealth Management LLC bought a new position in SmartRent during the third quarter worth $26,000. Neuberger Berman Group LLC acquired a new stake in SmartRent during the fourth quarter worth about $30,000. SummitTX Capital L.P. bought a new stake in shares of SmartRent during the first quarter valued at approximately $34,000. Finally, Dean Jacobson Financial Services LLC bought a new position in shares of SmartRent during the 4th quarter worth about $35,000. Institutional investors own 59.42% of the company’s stock.

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.