SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin Purchases 43,859 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin acquired 43,859 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $1.14 per share, for a total transaction of $49,999.26. Following the transaction, the chief executive officer now directly owns 43,859 shares in the company, valued at $49,999.26. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

SmartRent Stock Up 9.7 %

Shares of SmartRent stock opened at $1.19 on Friday. SmartRent, Inc. has a 52 week low of $1.07 and a 52 week high of $2.98. The company has a market capitalization of $228.35 million, a PE ratio of -9.12 and a beta of 1.92. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.61.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The firm had revenue of $35.37 million during the quarter, compared to analysts’ expectations of $37.78 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. SmartRent’s quarterly revenue was down 41.3% compared to the same quarter last year. As a group, research analysts anticipate that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price objective on SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SmartRent has a consensus rating of “Hold” and an average price target of $2.40.

Institutional Investors Weigh In On SmartRent

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of SmartRent in the 3rd quarter worth $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SmartRent during the 4th quarter worth $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SmartRent during the 3rd quarter worth $30,000. Avior Wealth Management LLC purchased a new stake in shares of SmartRent during the 4th quarter worth $31,000. Finally, Cibc World Markets Corp purchased a new stake in shares of SmartRent during the 4th quarter worth $31,000. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

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.