SmartRent (NYSE:SMRT) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• SmartRent has received a "sell (E+)" rating from Weiss Ratings, while other analysts, like Zacks Research, have upgraded it to a "hold." The consensus rating for the stock is "Reduce" with a target price of $1.45.
• The stock price rose by 4.6% to $1.47, with a market cap of $275.52 million, despite posting a quarterly loss of (-$0.06 EPS) compared to expectations.
• Insiders have increased their holdings, with Director Thomas N. Bohjalian purchasing 100,000 shares and CEO Frank Martell acquiring 50,000 shares, indicating confidence in the company's future.

SmartRent (NYSE:SMRT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on the company. Zacks Research upgraded SmartRent to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen downgraded SmartRent from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. 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 research note on Tuesday, August 12th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SmartRent has a consensus rating of "Reduce" and a consensus target price of $1.45.

SmartRent Stock Up 4.6%

Shares of SmartRent stock traded up $0.07 during midday trading on Tuesday, hitting $1.47. The company had a trading volume of 313,441 shares, compared to its average volume of 1,754,976. The stock has a market cap of $275.52 million, a price-to-earnings ratio of -3.86 and a beta of 1.84. The company has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.11. SmartRent has a 12-month low of $0.67 and a 12-month high of $1.99.

SmartRent (NYSE:SMRT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $38.31 million during the quarter, compared to analysts' expectations of $38.85 million. SmartRent had a negative net margin of 46.54% and a negative return on equity of 14.94%. As a group, analysts expect that SmartRent will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas N. Bohjalian purchased 100,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $1.50 per share, with a total value of $150,000.00. Following the completion of the transaction, the director directly owned 300,000 shares in the company, valued at approximately $450,000. This represents a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Martell purchased 50,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were purchased at an average cost of $1.53 per share, for a total transaction of $76,500.00. Following the transaction, the chief executive officer owned 898,204 shares of the company's stock, valued at $1,374,252.12. This trade represents a 5.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 725,000 shares of company stock worth $989,350. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On SmartRent

Several institutional investors have recently bought and sold shares of SMRT. Wealth Enhancement Advisory Services LLC grew its position in SmartRent by 101.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,597 shares of the company's stock worth $42,000 after buying an additional 17,444 shares during the period. Brighton Jones LLC increased its position in SmartRent by 76.5% in the first quarter. Brighton Jones LLC now owns 72,742 shares of the company's stock worth $88,000 after buying an additional 31,530 shares during the period. Bank of New York Mellon Corp raised its holdings in SmartRent by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 567,514 shares of the company's stock worth $687,000 after purchasing an additional 18,880 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of SmartRent during the first quarter worth $50,000. Finally, CWM LLC grew its holdings in shares of SmartRent by 944.4% during the first quarter. CWM LLC now owns 37,746 shares of the company's stock valued at $46,000 after buying an additional 34,132 shares in the last quarter. 59.42% of the stock is owned by institutional investors and hedge funds.

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.

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