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

Key Points

• SmartRent director Ana Pinczuk purchased 107,000 shares at an average price of $1.43, investing $153,010 and increasing her stake by 38.39% to 385,704 shares.
• SmartRent shares rose 4.8% to $1.43, but the company’s latest quarterly results missed expectations: adjusted EPS was a $0.03 loss versus a $0.02-loss estimate, while revenue came in at $38.39 million versus $39.62 million expected.
• Analyst sentiment remains cautious, with an average “Reduce” rating and a $1.20 price target; institutional investors and hedge funds own 59.42% of the company.

SmartRent, Inc. (NYSE:SMRT - Get Free Report) Director Ana Pinczuk acquired 107,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $1.43 per share, with a total value of $153,010.00. Following the purchase, the director owned 385,704 shares in the company, valued at $551,556.72. This represents a 38.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SmartRent Stock Up 4.8%

Shares of SmartRent stock traded up $0.07 on Tuesday, hitting $1.43. 1,311,532 shares of the company were exchanged, compared to its average volume of 1,470,928. 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 company has a 50-day moving average price of $1.10 and a 200 day moving average price of $1.37. SmartRent, Inc. has a 1-year low of $0.91 and a 1-year high of $2.20.

SmartRent (NYSE:SMRT - Get Free Report) last posted its quarterly 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 net margin of 12.97% and a negative return on equity of 8.50%. The company had revenue of $38.39 million during the quarter, compared to analyst estimates of $39.62 million. Research analysts forecast that SmartRent, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

SMRT has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price target on 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 report on Thursday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, SmartRent currently has an average rating of "Reduce" and an average target price of $1.20.

Institutional Investors Weigh In On SmartRent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMRT. CTC Alternative Strategies Ltd. acquired a new position in shares of SmartRent in the 1st quarter valued at $26,000. Kanen Wealth Management LLC purchased a new position in shares of SmartRent during the 3rd quarter worth $26,000. Neuberger Berman Group LLC acquired a new stake in shares of SmartRent during the 4th quarter worth about $30,000. SummitTX Capital L.P. acquired a new stake in shares of SmartRent during the 1st quarter worth about $34,000. Finally, Dean Jacobson Financial Services LLC purchased a new stake in SmartRent in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.

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