SmartRent, Inc. (NYSE:SMRT – Free Report) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for SmartRent in a report issued on Tuesday, July 11th. Cantor Fitzgerald analyst B. Knoblauch forecasts that the company will earn $0.02 per share for the year. The consensus estimate for SmartRent’s current full-year earnings is ($0.20) per share.
Separately, Keefe, Bruyette & Woods raised their target price on SmartRent from $3.75 to $4.50 in a research note on Thursday, May 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.54.
SmartRent Price Performance
SmartRent (NYSE:SMRT – Get Free Report) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $65.08 million for the quarter, compared to the consensus estimate of $56.63 million. SmartRent had a negative return on equity of 21.61% and a negative net margin of 44.05%.
Insider Buying and Selling
In other news, CTO Isaiah Derose-Wilson sold 65,067 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $3.23, for a total value of $210,166.41. Following the completion of the sale, the chief technology officer now directly owns 5,339 shares of the company’s stock, valued at $17,244.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SmartRent news, Director Alana Beard sold 12,000 shares of SmartRent stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $3.39, for a total transaction of $40,680.00. Following the completion of the sale, the director now owns 63,525 shares of the company’s stock, valued at $215,349.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Isaiah Derose-Wilson sold 65,067 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $3.23, for a total value of $210,166.41. Following the transaction, the chief technology officer now directly owns 5,339 shares of the company’s stock, valued at approximately $17,244.97. The disclosure for this sale can be found here. Insiders sold 89,918 shares of company stock valued at $293,325 over the last 90 days. 11.10% of the stock is currently owned by company insiders.
Institutional Trading of SmartRent
A number of large investors have recently modified their holdings of SMRT. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of SmartRent during the 2nd quarter worth $26,000. Royal Bank of Canada increased its position in SmartRent by 693.6% during the first quarter. Royal Bank of Canada now owns 5,571 shares of the company’s stock worth $28,000 after purchasing an additional 4,869 shares during the last quarter. Quantbot Technologies LP increased its position in shares of SmartRent by 3,553.6% in the first quarter. Quantbot Technologies LP now owns 5,590 shares of the company’s stock worth $28,000 after acquiring an additional 5,437 shares in the last quarter. Steel Peak Wealth Management LLC bought a new position in SmartRent during the 4th quarter valued at $32,000. Finally, Victory Capital Management Inc. boosted its stake in SmartRent by 35.7% during the 4th quarter. Victory Capital Management Inc. now owns 15,533 shares of the company’s stock valued at $38,000 after acquiring an additional 4,083 shares during the last quarter. Hedge funds and other institutional investors own 52.86% of the company’s stock.
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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