Rpo LLC Invests $58,000 in SmartRent, Inc. (NYSE:SMRT)

Rpo LLC purchased a new position in shares of SmartRent, Inc. (NYSE:SMRT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,333 shares of the company’s stock, valued at approximately $58,000.

Several other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in SmartRent in the third quarter valued at $26,000. State Street Corp lifted its stake in shares of SmartRent by 0.4% in the third quarter. State Street Corp now owns 4,206,322 shares of the company’s stock valued at $7,277,000 after purchasing an additional 15,642 shares during the period. SG Americas Securities LLC lifted its position in shares of SmartRent by 18.6% during the 4th quarter. SG Americas Securities LLC now owns 106,992 shares of the company’s stock valued at $187,000 after acquiring an additional 16,745 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of SmartRent during the 4th quarter worth approximately $31,000. Finally, Cibc World Markets Corp acquired a new stake in shares of SmartRent in the 4th quarter worth approximately $31,000. 59.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SmartRent news, Director John C. Dorman acquired 125,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $1.20 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the director now directly owns 229,965 shares in the company, valued at $275,958. This represents a 119.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Shane Paladin acquired 43,859 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $1.14 per share, with a total value of $49,999.26. Following the transaction, the chief executive officer now directly owns 43,859 shares of the company’s stock, valued at approximately $49,999.26. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their price objective on shares of SmartRent from $2.00 to $1.60 and set a “market perform” rating for the company in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.40.

SmartRent Stock Performance

NYSE SMRT opened at $1.15 on Thursday. The business’s 50-day moving average price is $1.33 and its 200 day moving average price is $1.56. SmartRent, Inc. has a twelve month low of $1.07 and a twelve month high of $2.98. The company has a market capitalization of $221.61 million, a PE ratio of -8.85 and a beta of 1.92.

SmartRent (NYSE:SMRT) last released its earnings results on Wednesday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $35.37 million during the quarter, compared to analyst estimates of $37.78 million. SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. SmartRent’s revenue was down 41.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Equities analysts predict that SmartRent, Inc. will post -0.14 EPS for the current year.

SmartRent 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.