SmartRent, Inc. (NYSE:SMRT – Get Rating) – Analysts at Colliers Securities dropped their FY2022 earnings estimates for SmartRent in a report released on Monday, September 19th. Colliers Securities analyst B. Oxford now anticipates that the company will post earnings of ($0.55) per share for the year, down from their previous forecast of ($0.53). The consensus estimate for SmartRent's current full-year earnings is ($0.48) per share. Colliers Securities also issued estimates for SmartRent's FY2023 earnings at ($0.17) EPS.
Get SmartRent alerts:SMRT has been the subject of a number of other research reports. Cantor Fitzgerald lowered their target price on SmartRent from $6.00 to $5.25 in a research note on Friday, August 12th. DA Davidson lowered their price target on shares of SmartRent from $7.50 to $6.00 and set a "buy" rating for the company in a research report on Friday, August 12th. Imperial Capital began coverage on shares of SmartRent in a report on Tuesday, August 16th. They issued an "outperform" rating and a $6.00 price objective on the stock. Morgan Stanley decreased their target price on shares of SmartRent from $4.90 to $4.50 and set an "equal weight" rating for the company in a research note on Friday, August 12th. Finally, The Goldman Sachs Group dropped their price target on SmartRent to $6.00 in a research report on Monday, August 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of 6.92.
SmartRent Stock Performance
SmartRent stock opened at 2.51 on Thursday. SmartRent has a fifty-two week low of 2.44 and a fifty-two week high of 14.74. The stock's 50 day simple moving average is 4.06 and its two-hundred day simple moving average is 4.75. The stock has a market cap of $496.32 million, a price-to-earnings ratio of -3.64 and a beta of 1.74.Institutional Investors Weigh In On SmartRent
A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in SmartRent in the first quarter worth about $299,000. CTC Capital Management LLC bought a new stake in SmartRent during the first quarter valued at approximately $53,000. Anson Funds Management LP purchased a new stake in SmartRent during the first quarter valued at approximately $293,000. Sciencast Management LP purchased a new stake in SmartRent during the first quarter valued at approximately $85,000. Finally, Telemus Capital LLC bought a new position in SmartRent in the first quarter worth approximately $53,000. Institutional investors own 72.74% of the company's stock.
Insider Activity
In other SmartRent news, Director Robert T. Best bought 84,000 shares of the business's stock in a transaction on Wednesday, August 17th. The shares were acquired at an average cost of 3.65 per share, for a total transaction of 306,600.00. Following the purchase, the director now owns 4,905,222 shares in the company, valued at approximately 17,904,060.30. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SmartRent news, Director Robert T. Best bought 84,000 shares of the firm's stock in a transaction on Wednesday, August 17th. The stock was acquired at an average price of 3.65 per share, with a total value of 306,600.00. Following the transaction, the director now owns 4,905,222 shares in the company, valued at 17,904,060.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bain Capital Venture Investors sold 66,939 shares of the firm's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of 5.53, for a total transaction of 370,172.67. Following the sale, the insider now directly owns 19,726,258 shares in the company, valued at approximately 109,086,206.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,480,727 shares of company stock worth $7,301,428 over the last 90 days. 12.00% of the stock is currently owned by insiders.
About SmartRent
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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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