Manatuck Hill Partners LLC Makes New $875,000 Investment in SmartRent, Inc. (NYSE:SMRT)

Manatuck Hill Partners LLC purchased a new position in SmartRent, Inc. (NYSE:SMRT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 500,000 shares of the company's stock, valued at approximately $875,000. Manatuck Hill Partners LLC owned approximately 0.26% of SmartRent as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of SmartRent by 15.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 71,641 shares of the company's stock valued at $126,000 after purchasing an additional 9,827 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of SmartRent by 20.6% during the 4th quarter. MetLife Investment Management LLC now owns 87,149 shares of the company's stock valued at $153,000 after acquiring an additional 14,879 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of SmartRent in the third quarter valued at about $26,000. Dynamic Technology Lab Private Ltd purchased a new position in SmartRent during the fourth quarter worth about $27,000. Finally, SG Americas Securities LLC boosted its holdings in SmartRent by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 106,992 shares of the company's stock valued at $187,000 after purchasing an additional 16,745 shares during the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.

SmartRent Price Performance

Shares of SMRT stock traded up $0.06 during midday trading on Wednesday, hitting $0.96. The company had a trading volume of 703,734 shares, compared to its average volume of 1,524,233. The stock has a market cap of $184.07 million, a price-to-earnings ratio of -7.35 and a beta of 1.86. The company's 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.42. SmartRent, Inc. has a 52-week low of $0.67 and a 52-week high of $2.98.

SmartRent (NYSE:SMRT - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $35.37 million during the quarter, compared to analysts' expectations of $37.78 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The company's revenue was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. Analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current year.

Insider Activity

In other SmartRent news, Director John C. Dorman bought 125,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now owns 229,965 shares of the company's stock, valued at $275,958. This trade represents a 119.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Shane Paladin purchased 43,859 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the acquisition, the chief executive officer now owns 43,859 shares in the company, valued at $49,999.26. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMRT. Cantor Fitzgerald raised shares of SmartRent to a "hold" rating in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of SmartRent from $2.00 to $1.60 and set a "market perform" rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2.40.

SmartRent Company Profile

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.