Colliers Securities Expects Increased Earnings for SmartRent

SmartRent, Inc. (NYSE:SMRT - Free Report) - Research analysts at Colliers Securities raised their FY2026 earnings per share estimates for shares of SmartRent in a research note issued to investors on Wednesday, August 13th. Colliers Securities analyst B. Oxford now anticipates that the company will post earnings per share of ($0.08) for the year, up from their previous estimate of ($0.14). The consensus estimate for SmartRent's current full-year earnings is ($0.14) per share.

SMRT has been the subject of several other reports. Zacks Research raised SmartRent to a "hold" rating in a report on Friday, August 8th. Wall Street Zen raised SmartRent from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Keefe, Bruyette & Woods lifted their price objective on SmartRent from $1.30 to $1.45 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SmartRent currently has an average rating of "Hold" and a consensus price target of $1.45.

SmartRent Stock Performance

NYSE:SMRT traded down $0.0450 during mid-day trading on Monday, hitting $1.4050. 696,916 shares of the stock were exchanged, compared to its average volume of 1,940,539. The stock has a market capitalization of $264.24 million, a price-to-earnings ratio of -3.70 and a beta of 1.82. The firm's 50-day simple moving average is $1.07 and its 200 day simple moving average is $1.07. SmartRent has a fifty-two week low of $0.6710 and a fifty-two week high of $1.99.

SmartRent (NYSE:SMRT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $38.31 million for the quarter, compared to analyst estimates of $38.85 million. SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%.

Hedge Funds Weigh In On SmartRent

Institutional investors have recently modified their holdings of the business. Hudson Bay Capital Management LP bought a new stake in SmartRent during the 2nd quarter worth $47,000. Tower Research Capital LLC TRC grew its position in SmartRent by 570.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 95,132 shares of the company's stock worth $94,000 after acquiring an additional 80,938 shares during the last quarter. Engineers Gate Manager LP grew its position in SmartRent by 43.6% during the 2nd quarter. Engineers Gate Manager LP now owns 79,923 shares of the company's stock worth $79,000 after acquiring an additional 24,250 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of SmartRent by 100.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 200,000 shares of the company's stock valued at $198,000 after buying an additional 100,000 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of SmartRent in the 2nd quarter valued at about $308,000. Institutional investors and hedge funds own 59.42% of the company's stock.

Insiders Place Their Bets

In other SmartRent news, CEO Frank Martell purchased 150,000 shares of the stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $1.25 per share, with a total value of $187,500.00. Following the acquisition, the chief executive officer owned 398,204 shares of the company's stock, valued at approximately $497,755. This represents a 60.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Bohjalian purchased 100,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $1.50 per share, with a total value of $150,000.00. Following 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 disclosure for this purchase can be found here. Insiders have bought a total of 625,000 shares of company stock valued at $840,850 in the last three months. 1.90% of the stock is owned by insiders.

SmartRent declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 7th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 27.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.