Dynamic Technology Lab Private Ltd Purchases Shares of 15,437 SmartRent, Inc. (NYSE:SMRT)

Dynamic Technology Lab Private Ltd purchased a new position in shares of SmartRent, Inc. (NYSE:SMRT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,437 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds have also made changes to their positions in the business. Jane Street Group LLC lifted its position in SmartRent by 21.9% during the third quarter. Jane Street Group LLC now owns 310,672 shares of the company’s stock worth $537,000 after buying an additional 55,809 shares during the period. Barclays PLC increased its stake in shares of SmartRent by 317.1% during the 3rd quarter. Barclays PLC now owns 292,017 shares of the company’s stock valued at $504,000 after acquiring an additional 221,998 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SmartRent by 250.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company’s stock worth $499,000 after acquiring an additional 205,843 shares during the period. State Street Corp boosted its position in shares of SmartRent by 0.4% in the third quarter. State Street Corp now owns 4,206,322 shares of the company’s stock worth $7,277,000 after acquiring an additional 15,642 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in SmartRent in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Insider Activity at SmartRent

In other news, CEO Michael Shane Paladin acquired 43,859 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the completion of the purchase, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Dorman bought 125,000 shares of SmartRent stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 229,965 shares of the company’s stock, valued at approximately $275,958. This represents a 119.09 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

SmartRent Price Performance

SmartRent stock opened at $0.75 on Friday. SmartRent, Inc. has a 12 month low of $0.67 and a 12 month high of $2.98. The company has a market cap of $144.98 million, a price-to-earnings ratio of -5.79 and a beta of 1.83. The stock’s 50-day moving average is $1.24 and its 200-day moving average is $1.51.

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

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.