SmartRent, Inc. (NYSE:SMRT) Receives Average Recommendation of “Moderate Buy” from Brokerages

SmartRent, Inc. (NYSE:SMRTGet Rating) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is 6.66.

SMRT has been the topic of a number of research analyst reports. DA Davidson dropped their price target on shares of SmartRent to $5.25 in a research note on Wednesday, November 16th. Morgan Stanley boosted their price objective on shares of SmartRent from $2.80 to $2.90 and gave the company an “equal weight” rating in a report on Friday, November 11th.

SmartRent Price Performance

SMRT stock opened at 2.71 on Thursday. The company has a market capitalization of $537.52 million, a PE ratio of -5.31 and a beta of 1.73. SmartRent has a 12 month low of 2.03 and a 12 month high of 9.71. The firm’s 50-day moving average is 2.49 and its 200 day moving average is 3.27.

SmartRent (NYSE:SMRTGet Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported -0.13 earnings per share for the quarter, missing analysts’ consensus estimates of -0.11 by -0.02. The firm had revenue of 47.50 million during the quarter, compared to the consensus estimate of 44.20 million. SmartRent had a negative net margin of 62.30% and a negative return on equity of 23.75%. Sell-side analysts forecast that SmartRent will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On SmartRent

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMRT. HighTower Advisors LLC acquired a new position in SmartRent in the first quarter valued at approximately $215,000. Citigroup Inc. acquired a new position in SmartRent in the first quarter valued at approximately $175,000. Vanguard Group Inc. boosted its holdings in SmartRent by 128.0% in the first quarter. Vanguard Group Inc. now owns 7,496,241 shares of the company’s stock valued at $37,931,000 after purchasing an additional 4,207,723 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SmartRent by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 446,525 shares of the company’s stock valued at $2,260,000 after purchasing an additional 11,145 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of SmartRent by 224.4% in the first quarter. Renaissance Technologies LLC now owns 100,900 shares of the company’s stock valued at $511,000 after acquiring an additional 69,800 shares during the period. 62.27% of the stock is owned by institutional investors and hedge funds.

About SmartRent

(Get Rating)

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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Analyst Recommendations for SmartRent (NYSE:SMRT)

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