Following The Money: Institution’s Growing Stake In SmartRent Inc (NYSE: SMRT)

SmartRent Inc (SMRT) concluded trading on Wednesday at a closing price of $2.60, with 3.14 million shares of worth about $8.17 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -1.14% during that period and on April 3, 2024 the price saw a loss of about -0.38%. Currently the company’s common shares owned by public are about 203.33M shares, out of which, 166.98M shares are available for trading.

Stock saw a price change of -0.38% in past 5 days and over the past one month there was a price change of -10.03%. Year-to-date (YTD), SMRT shares are showing a performance of -18.50% which increased to 1.96% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.15 but also hit the highest price of $4.12 during that period. The average intraday trading volume for SmartRent Inc shares is 1.33 million. The stock is currently trading -3.70% below its 20-day simple moving average (SMA20), while that difference is down -9.53% for SMA50 and it goes to -15.84% lower than SMA200.

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SmartRent Inc (NYSE: SMRT) currently have 203.33M outstanding shares and institutions hold larger chunk of about 58.02% of that.

The stock has a current market capitalization of $530.06M and its 3Y-monthly beta is at 1.99. It has posted earnings per share of -$0.17 in the same period. It has Quick Ratio of 2.45 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SMRT, volatility over the week remained 4.68% while standing at 5.46% over the month.

Analysts are in expectations that SmartRent Inc (SMRT) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is -$0.01 and it is $0.04 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.02 which is -$0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 89.22% while it is estimated to increase by 309.09% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on January 19, 2024 offering a Buy rating for the stock and assigned a target price of $4.50 to it. Coverage by Imperial Capital stated SmartRent Inc (SMRT) stock as an Outperform in their note to investors on August 16, 2022, suggesting a price target of $6 for the stock. On July 22, 2022, Cantor Fitzgerald Resumed their recommendations, while on May 25, 2022, Compass Point Initiated their ratings for the stock with a price target of $8. Stock get an Equal-weight rating from Morgan Stanley on February 15, 2022.

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