SmartRent (NYSE:SMRT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SmartRent (NYSE:SMRT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

SMRT has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a research note on Wednesday, November 5th. Zacks Research cut SmartRent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods raised their target price on SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $1.45.

SmartRent Trading Up 0.7%

Shares of NYSE SMRT opened at $1.46 on Friday. The business’s 50 day moving average is $1.46 and its 200-day moving average is $1.18. SmartRent has a 1-year low of $0.67 and a 1-year high of $1.99. The firm has a market cap of $276.23 million, a P/E ratio of -4.06 and a beta of 1.84.

SmartRent (NYSE:SMRT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $36.20 million during the quarter, compared to analysts’ expectations of $36.27 million. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. Analysts forecast that SmartRent will post -0.14 EPS for the current year.

Insider Buying and Selling at SmartRent

In other SmartRent news, Director Thomas N. Bohjalian acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $1.50 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director directly owned 300,000 shares in the company, valued at $450,000. This represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Martell purchased 120,000 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $1.35 per share, for a total transaction of $162,000.00. Following the completion of the acquisition, the chief executive officer directly owned 748,204 shares in the company, valued at approximately $1,010,075.40. This trade represents a 19.10% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 345,000 shares of company stock worth $497,750. Insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On SmartRent

Large investors have recently bought and sold shares of the company. Steinberganna Wealth Management purchased a new position in shares of SmartRent in the third quarter worth about $25,000. Vanguard Personalized Indexing Management LLC acquired a new stake in SmartRent in the 2nd quarter valued at about $27,000. Pallas Capital Advisors LLC lifted its position in SmartRent by 128.5% during the second quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after buying an additional 17,312 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SmartRent by 101.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,597 shares of the company’s stock worth $42,000 after acquiring an additional 17,444 shares during the period. Finally, CWM LLC boosted its position in shares of SmartRent by 944.4% during the 1st quarter. CWM LLC now owns 37,746 shares of the company’s stock valued at $46,000 after acquiring an additional 34,132 shares during the last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

SmartRent Company Profile

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.