SmartRent, Inc. (NYSE:SMRT) CEO Purchases $49,999.26 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin purchased 43,859 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $1.14 per share, for a total transaction of $49,999.26. Following the completion of the purchase, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

SmartRent Price Performance

Shares of NYSE:SMRT opened at $1.19 on Friday. The business’s 50 day moving average price is $1.45 and its 200-day moving average price is $1.61. The firm has a market capitalization of $228.35 million, a PE ratio of -9.12 and a beta of 1.92. SmartRent, Inc. has a 1 year low of $1.07 and a 1 year high of $2.98.

SmartRent (NYSE:SMRT) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $35.37 million for the quarter, compared to analyst estimates of $37.78 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The business’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, analysts expect that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On SmartRent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMRT. Virtu Financial LLC acquired a new position in SmartRent during the third quarter worth $26,000. Dynamic Technology Lab Private Ltd acquired a new position in SmartRent during the fourth quarter worth $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of SmartRent in the 3rd quarter valued at $30,000. Avior Wealth Management LLC acquired a new position in shares of SmartRent in the 4th quarter valued at $31,000. Finally, Cibc World Markets Corp acquired a new position in shares of SmartRent in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their price target on SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research note on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.40.

About SmartRent

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.