SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin Purchases 43,859 Shares

SmartRent, Inc. (NYSE:SMRT) CEO Michael Shane Paladin acquired 43,859 shares of SmartRent stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the transaction, the chief executive officer now owns 43,859 shares of the company’s stock, valued at $49,999.26. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SmartRent Price Performance

Shares of SMRT stock traded down $0.08 during trading hours on Thursday, hitting $1.09. The company had a trading volume of 1,898,095 shares, compared to its average volume of 1,488,575. SmartRent, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $2.98. The company’s fifty day moving average is $1.47 and its 200 day moving average is $1.61. The stock has a market capitalization of $209.08 million, a PE ratio of -8.35 and a beta of 1.92.

SmartRent (NYSE:SMRT) last posted 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 firm had revenue of $35.37 million during the quarter, compared to analysts’ expectations of $37.78 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. SmartRent’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Equities analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On SmartRent

A number of hedge funds have recently added to or reduced their stakes in SMRT. Price T Rowe Associates Inc. MD raised its position in SmartRent by 15.9% in the 4th 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 in the last quarter. MetLife Investment Management LLC lifted 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 worth $153,000 after purchasing an additional 14,879 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of SmartRent during the third quarter worth $26,000. Dynamic Technology Lab Private Ltd acquired a new stake in SmartRent in the fourth quarter valued at $27,000. Finally, State Street Corp boosted its position in shares of SmartRent by 0.4% during the 3rd quarter. State Street Corp now owns 4,206,322 shares of the company’s stock worth $7,277,000 after acquiring an additional 15,642 shares in the last quarter. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.40.

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.