SmartRent (NYSE:SMRT) Director Purchases $20,400.00 in Stock

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian purchased 15,000 shares of SmartRent stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $1.36 per share, for a total transaction of $20,400.00. Following the completion of the purchase, the director directly owned 781,062 shares in the company, valued at approximately $1,062,244.32. This trade represents a 1.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SmartRent Stock Performance

NYSE:SMRT opened at $1.42 on Friday. The stock has a market capitalization of $272.09 million, a P/E ratio of -14.20 and a beta of 1.52. The company has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.35. SmartRent, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $2.20.

SmartRent (NYSE:SMRT) last announced its 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 firm had revenue of $38.39 million during the quarter, compared to analysts’ expectations of $39.62 million. Research analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SmartRent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of SmartRent in the second quarter worth $199,000. Ancora Advisors LLC acquired a new stake in shares of SmartRent in the second quarter valued at $1,470,000. Bank of New York Mellon Corp purchased a new position in SmartRent in the second quarter valued at $564,000. CTC Alternative Strategies Ltd. purchased a new position in SmartRent in the first quarter valued at $26,000. Finally, Bank of America Corp DE grew its stake in SmartRent by 1,900.9% during the 1st quarter. Bank of America Corp DE now owns 5,387,342 shares of the company’s stock worth $8,081,000 after purchasing an additional 5,118,096 shares in the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About SmartRent

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.