SmartRent, Inc. (NYSE:SMRT) Receives Average Rating of “Hold” from Brokerages

Shares of SmartRent, Inc. (NYSE:SMRT) have been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $2.64.

Several equities analysts have recently commented on SMRT shares. Cantor Fitzgerald cut shares of SmartRent from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $2.00 in a research report on Thursday, August 8th. Keefe, Bruyette & Woods lowered SmartRent from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $3.50 to $2.00 in a research report on Thursday, August 8th. Colliers Securities lowered SmartRent from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research downgraded shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, DA Davidson cut shares of SmartRent from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $3.25 to $2.00 in a report on Wednesday, July 31st.

Insider Activity at SmartRent

In related news, Director Frank Martell bought 75,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the transaction, the director now directly owns 150,000 shares of the company’s stock, valued at $244,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CMO Robyn Young acquired 14,793 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average cost of $1.70 per share, for a total transaction of $25,148.10. Following the transaction, the chief marketing officer now directly owns 52,305 shares in the company, valued at approximately $88,918.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Martell bought 75,000 shares of SmartRent stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the purchase, the director now directly owns 150,000 shares in the company, valued at $244,500. The disclosure for this purchase can be found here. Insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On SmartRent

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in SmartRent by 30.7% in the 4th quarter. Victory Capital Management Inc. now owns 22,428 shares of the company’s stock valued at $72,000 after acquiring an additional 5,264 shares during the period. ACK Asset Management LLC boosted its position in SmartRent by 3.0% during the 4th quarter. ACK Asset Management LLC now owns 6,080,400 shares of the company’s stock worth $19,396,000 after acquiring an additional 175,400 shares during the period. Blue Door Asset Management LLC grew its stake in shares of SmartRent by 0.5% in the fourth quarter. Blue Door Asset Management LLC now owns 3,125,581 shares of the company’s stock worth $9,971,000 after purchasing an additional 16,150 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of SmartRent by 12.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,786 shares of the company’s stock valued at $1,063,000 after purchasing an additional 44,611 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in shares of SmartRent by 38.5% during the first quarter. First Eagle Investment Management LLC now owns 1,389,680 shares of the company’s stock valued at $3,724,000 after purchasing an additional 386,000 shares in the last quarter. Institutional investors own 59.42% of the company’s stock.

SmartRent Stock Down 1.8 %

Shares of SMRT opened at $1.68 on Thursday. The firm has a market cap of $340.02 million, a price-to-earnings ratio of -11.20 and a beta of 1.97. The business’s 50 day moving average is $1.79 and its two-hundred day moving average is $2.24. SmartRent has a 52-week low of $1.35 and a 52-week high of $3.47.

SmartRent (NYSE:SMRT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $48.52 million during the quarter, compared to analyst estimates of $51.33 million. SmartRent had a negative net margin of 10.73% and a negative return on equity of 5.68%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts expect that SmartRent will post -0.09 earnings per share for the current fiscal year.

SmartRent Company Profile

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.