17,131 Shares in SmartRent, Inc. (NYSE:SMRT) Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new position in shares of SmartRent, Inc. (NYSE:SMRT) in the third quarter, HoldingsChannel.com reports. The fund purchased 17,131 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of SmartRent by 2.9% in the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after buying an additional 7,597 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of SmartRent by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after buying an additional 8,169 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of SmartRent by 12.5% in the second quarter. The Manufacturers Life Insurance Company now owns 76,918 shares of the company’s stock valued at $184,000 after buying an additional 8,532 shares during the period. Algert Global LLC acquired a new position in shares of SmartRent in the second quarter valued at approximately $42,000. Finally, Virtu Financial LLC acquired a new position in shares of SmartRent in the first quarter valued at approximately $84,000. 59.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SmartRent news, Director Frank Martell purchased 75,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the transaction, the director now owns 150,000 shares in the company, valued at $244,500. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Robyn Young bought 14,793 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $1.70 per share, with a total value of $25,148.10. Following the acquisition, the chief marketing officer now directly owns 52,305 shares in the company, valued at $88,918.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Martell purchased 75,000 shares of SmartRent stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $1.63 per share, for a total transaction of $122,250.00. Following the completion of the purchase, the director now owns 150,000 shares in the company, valued at $244,500. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. 9.00% of the stock is owned by insiders.

SmartRent Price Performance

Shares of SMRT stock opened at $1.50 on Thursday. The stock has a market cap of $287.89 million, a P/E ratio of -11.50 and a beta of 1.96. The company has a fifty day moving average price of $1.69 and a two-hundred day moving average price of $2.02. SmartRent, Inc. has a one year low of $1.17 and a one year high of $3.47.

SmartRent (NYSE:SMRT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $40.50 million during the quarter, compared to the consensus estimate of $45.94 million. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. SmartRent’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. As a group, equities research analysts anticipate that SmartRent, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of SmartRent from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $3.50 to $2.00 in a report on Thursday, August 8th. Colliers Securities cut shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. BTIG Research cut shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. DA Davidson cut shares of SmartRent from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $3.25 to $2.00 in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald cut shares of SmartRent from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $4.00 to $2.00 in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.50.

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.