John C. Dorman Purchases 125,000 Shares of SmartRent, Inc. (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT) Director John C. Dorman acquired 125,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $1.20 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now owns 229,965 shares of the company’s stock, valued at $275,958. The trade was a 119.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

SmartRent Trading Up 3.1 %

NYSE SMRT opened at $1.16 on Thursday. The stock has a fifty day simple moving average of $1.47 and a 200-day simple moving average of $1.61. The stock has a market cap of $222.57 million, a PE ratio of -8.88 and a beta of 1.92. SmartRent, Inc. has a twelve month low of $1.09 and a twelve month high of $2.98.

SmartRent (NYSE:SMRT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $35.37 million for 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 quarterly revenue was down 41.3% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. Research analysts predict that SmartRent, Inc. will post -0.14 EPS for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their price target on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Five 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 $2.40.

Institutional Trading of SmartRent

Several institutional investors have recently added to or reduced their stakes in SMRT. Virtu Financial LLC acquired a new position in SmartRent during the third quarter worth $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SmartRent in the 4th quarter valued at $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of SmartRent in the 3rd quarter valued at $30,000. Avior Wealth Management LLC acquired a new position in SmartRent during the 4th quarter worth about $31,000. Finally, Cibc World Markets Corp purchased a new position in SmartRent during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 59.42% of the company’s stock.

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.