Frank Martell Purchases 50,000 Shares of SmartRent (NYSE:SMRT) Stock

Key Points

• SmartRent CEO Frank Martell bought 50,000 shares on May 8 at $1.12 each, totaling $56,000. After the purchase, he held about 3.07 million shares, increasing his ownership by 1.66%.
• SmartRent recently reported quarterly EPS of -$0.02, matching analyst expectations, while revenue of $36.63 million came in slightly below forecasts. The company also continues to post negative margins and a negative return on equity.
• Analysts remain cautious on the stock, with a consensus rating of "Reduce" and a target price of $1.45. Weiss Ratings also lowered its view from "sell (e+)" to "sell (d-)" in a recent report.

SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell bought 50,000 shares of the stock in a transaction on Friday, May 8th. The shares were acquired at an average cost of $1.12 per share, for a total transaction of $56,000.00. Following the purchase, the chief executive officer owned 3,065,266 shares in the company, valued at approximately $3,433,097.92. This represents a 1.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SmartRent Stock Performance

Shares of NYSE SMRT traded down $0.02 during mid-day trading on Friday, reaching $1.13. 1,132,679 shares of the company traded hands, compared to its average volume of 1,071,823. SmartRent, Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.20. The company's fifty day moving average is $1.53 and its two-hundred day moving average is $1.65. The stock has a market cap of $216.29 million, a PE ratio of -8.65 and a beta of 1.57.

SmartRent (NYSE:SMRT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, hitting analysts' consensus estimates of ($0.02). The business had revenue of $36.63 million for the quarter, compared to analyst estimates of $36.82 million. SmartRent had a negative return on equity of 10.61% and a negative net margin of 16.58%. Research analysts forecast that SmartRent, Inc. will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of SmartRent from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday. Two research 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 presently has a consensus rating of "Reduce" and a consensus target price of $1.45.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Steinberganna Wealth Management bought a new stake in SmartRent during the 3rd quarter worth about $25,000. Kanen Wealth Management LLC acquired a new stake in SmartRent in the 3rd quarter valued at about $26,000. Neuberger Berman Group LLC acquired a new stake in SmartRent in the 4th quarter valued at about $30,000. Dean Jacobson Financial Services LLC acquired a new stake in SmartRent in the 4th quarter valued at about $35,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in SmartRent in the 4th quarter valued at about $39,000. 59.42% of the stock is owned by institutional investors.

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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