Thomas Bohjalian Purchases 40,000 Shares of SmartRent (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) Director Thomas Bohjalian acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the completion of the purchase, the director directly owned 766,062 shares of the company’s stock, valued at approximately $1,072,486.80. The trade was a 5.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SmartRent Trading Up 5.2%

NYSE SMRT opened at $1.42 on Friday. SmartRent, Inc. has a 1-year low of $0.91 and a 1-year high of $2.20. The company has a 50 day moving average of $1.15 and a 200-day moving average of $1.35. The firm has a market cap of $272.09 million, a price-to-earnings ratio of -14.20 and a beta of 1.52.

SmartRent (NYSE:SMRT) last announced its earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). SmartRent had a negative return on equity of 8.50% and a negative net margin of 12.97%.The business had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million. On average, analysts forecast that SmartRent, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SMRT shares. Weiss Ratings lowered SmartRent from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. 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. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $1.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SMRT. LPL Financial LLC raised its position in shares of SmartRent by 60.9% during the fourth quarter. LPL Financial LLC now owns 37,000 shares of the company’s stock worth $75,000 after acquiring an additional 14,000 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of SmartRent during the fourth quarter valued at $30,000. Invesco Ltd. boosted its holdings in SmartRent by 4.8% in the fourth quarter. Invesco Ltd. now owns 331,584 shares of the company’s stock valued at $670,000 after acquiring an additional 15,124 shares during the last quarter. Squarepoint Ops LLC increased its position in SmartRent by 111.3% in the fourth quarter. Squarepoint Ops LLC now owns 31,774 shares of the company’s stock worth $64,000 after purchasing an additional 16,734 shares during the period. Finally, CTC Alternative Strategies Ltd. acquired a new stake in SmartRent in the first quarter worth about $26,000. 59.42% of the stock is currently owned by institutional investors.

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.