SmartRent’s (SMRT) “Sell (E+)” Rating Reiterated at Weiss Ratings

by · The Markets Daily

Weiss Ratings reaffirmed their sell (e+) rating on shares of SmartRent (NYSE:SMRT – Free Report) in a research report report published on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on SMRT. Zacks Research upgraded SmartRent to a “hold” rating in a research note on Friday, August 8th. Keefe, Bruyette & Woods lifted their price target on SmartRent from $1.30 to $1.45 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered SmartRent from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $1.45.

Check Out Our Latest Report on SMRT

SmartRent Price Performance

Shares of SMRT stock opened at $1.47 on Tuesday. The firm has a market capitalization of $275.52 million, a price-to-earnings ratio of -3.86 and a beta of 1.84. The business has a fifty day moving average of $1.45 and a 200 day moving average of $1.12. SmartRent has a 1 year low of $0.67 and a 1 year high of $1.99.

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

Insider Activity

In other news, CEO Frank Martell acquired 150,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $1.25 per share, for a total transaction of $187,500.00. Following the acquisition, the chief executive officer owned 398,204 shares in the company, valued at approximately $497,755. This represents a 60.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Bohjalian acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $1.50 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director owned 300,000 shares in the company, valued at $450,000. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 725,000 shares of company stock valued at $989,350. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On SmartRent

Institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in SmartRent in the 2nd quarter worth about $27,000. Pallas Capital Advisors LLC boosted its holdings in SmartRent by 128.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 30,788 shares of the company’s stock worth $30,000 after buying an additional 17,312 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in SmartRent by 101.7% in the 1st 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 last quarter. Jump Financial LLC acquired a new stake in SmartRent in the 2nd quarter worth about $42,000. Finally, Qube Research & Technologies Ltd acquired a new stake in SmartRent in the 2nd quarter worth about $43,000. 59.42% of the stock is currently owned by institutional investors and hedge funds.

SmartRent Company Profile

(Get Free Report)

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.

See Also