SmartRent (NYSE:SMRT) Director Ana Pinczuk Purchases 107,000 Shares

SmartRent, Inc. (NYSE:SMRT) Director Ana Pinczuk acquired 107,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $153,010.00. Following the completion of the acquisition, the director directly owned 385,704 shares in the company, valued at approximately $551,556.72. The trade was a 38.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

SmartRent Trading Up 4.8%

NYSE SMRT opened at $1.43 on Wednesday. The stock has a market capitalization of $273.04 million, a price-to-earnings ratio of -14.25 and a beta of 1.52. The stock has a 50-day moving average of $1.10 and a 200 day moving average of $1.36. SmartRent, Inc. has a twelve month low of $0.91 and a twelve month high of $2.20.

SmartRent (NYSE:SMRT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $38.39 million during the quarter, compared to analysts’ expectations of $39.62 million. SmartRent had a negative net margin of 12.97% and a negative return on equity of 8.50%. Equities analysts predict that SmartRent, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of SmartRent

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in SmartRent by 245.9% during the first quarter. AQR Capital Management LLC now owns 973,783 shares of the company’s stock worth $1,178,000 after acquiring an additional 692,268 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in SmartRent during the first quarter worth about $69,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SmartRent by 81.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 634,066 shares of the company’s stock worth $767,000 after buying an additional 285,478 shares during the period. JPMorgan Chase & Co. increased its position in shares of SmartRent by 55.7% during the second quarter. JPMorgan Chase & Co. now owns 173,485 shares of the company’s stock valued at $172,000 after acquiring an additional 62,028 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of SmartRent during the second quarter valued at about $248,000. Hedge funds and other institutional investors own 59.42% of the company’s stock.

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.