SmartRent (NYSE:SMRT) Insider Sangeeth Ponathil Purchases 10,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) insider Sangeeth Ponathil bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $1.25 per share, for a total transaction of $12,500.00. Following the transaction, the insider owned 10,000 shares of the company’s stock, valued at approximately $12,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SmartRent Price Performance

NYSE SMRT opened at $1.32 on Thursday. The company has a market cap of $253.58 million, a PE ratio of -10.12 and a beta of 1.57. The stock’s 50 day simple moving average is $1.39 and its 200-day simple moving average is $1.63. SmartRent, Inc. has a 1-year low of $0.78 and a 1-year high of $2.20.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%.The business had revenue of $36.63 million for the quarter, compared to the consensus estimate of $36.82 million. On average, equities research analysts anticipate that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On SmartRent

A number of hedge funds have recently modified their holdings of SMRT. CTC Alternative Strategies Ltd. acquired a new stake in SmartRent in the 1st quarter valued at approximately $26,000. Kanen Wealth Management LLC acquired a new stake in shares of SmartRent in the third quarter valued at $26,000. Neuberger Berman Group LLC acquired a new stake in shares of SmartRent in the fourth quarter valued at $30,000. SummitTX Capital L.P. acquired a new stake in shares of SmartRent in the first quarter valued at $34,000. Finally, Dean Jacobson Financial Services LLC acquired a new stake in shares of SmartRent in the fourth quarter valued at $35,000. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their price target on SmartRent from $2.00 to $1.40 and set a “market perform” rating for the company in a report on Monday, May 18th. Weiss Ratings cut SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $1.40.

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.