SmartRent, Inc. (NYSE:SMRT – Get Free Report) CEO Frank Martell purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $1.18 per share, for a total transaction of $118,000.00. Following the completion of the acquisition, the chief executive officer owned 3,165,266 shares of the company’s stock, valued at approximately $3,735,013.88. This represents a 3.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Frank Martell also recently made the following trade(s):
- On Friday, May 8th, Frank Martell purchased 50,000 shares of SmartRent stock. The shares were acquired at an average cost of $1.12 per share, with a total value of $56,000.00.
SmartRent Stock Down 2.2%
Shares of SMRT stock traded down $0.03 during trading on Wednesday, reaching $1.12. The company’s stock had a trading volume of 1,445,085 shares, compared to its average volume of 1,081,265. SmartRent, Inc. has a one year low of $0.74 and a one year high of $2.20. The business has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.65. The company has a market cap of $215.02 million, a price-to-earnings ratio of -8.58 and a beta of 1.57.
Hedge Funds Weigh In On SmartRent
A number of institutional investors have recently bought and sold shares of the business. Kanen Wealth Management LLC acquired a new stake in SmartRent during the 3rd quarter valued at $26,000. Neuberger Berman Group LLC acquired a new position in shares of SmartRent in the fourth quarter valued at $30,000. Dean Jacobson Financial Services LLC bought a new position in shares of SmartRent in the fourth quarter valued at about $35,000. Oppenheimer Asset Management Inc. bought a new position in SmartRent in the 4th quarter valued at about $39,000. Finally, Jump Financial LLC acquired a new stake in SmartRent during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 59.42% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded SmartRent from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. 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.com, SmartRent presently has an average rating of “Reduce” and a consensus target price of $1.45.
Check Out Our Latest Research Report on SmartRent
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.
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