SmartRent Inc (NYSE: SMRT) – Suitable For Long Term Buy?

Currently, there are 203.33M common shares owned by the public and among those 174.32M shares have been available to trade.

The company’s stock has a 5-day price change of -21.22% and -19.58% over the past three months. SMRT shares are trading -39.50% year to date (YTD), with the 12-month market performance down to -51.02% lower. It has a 12-month low price of $2.12 and touched a high of $4.01 over the same period. SMRT has an average intraday trading volume of 1.25 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.04%, -20.14%, and -29.03% respectively.

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Institutional ownership of SmartRent Inc (NYSE: SMRT) shares accounts for 63.40% of the company’s 203.33M shares outstanding.

It has a market capitalization of $389.53M and a beta (3y monthly) value of 1.98. The earnings-per-share (ttm) stands at -$0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.11% over the week and 4.84% over the month.

Earnings per share for the fiscal year are expected to increase by 69.61%, and 145.16% over the next financial year.

Looking at the support for the SMRT, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on January 19, 2024, with the firm’s price target at $4.50. Imperial Capital coverage for the SmartRent Inc (SMRT) stock in a research note released on August 16, 2022 offered a Outperform rating with a price target of $6. Cantor Fitzgerald was of a view on July 22, 2022 that the stock is Overweight, while Compass Point gave the stock Buy rating on May 25, 2022, issuing a price target of $8. Morgan Stanley on their part issued Equal-Weight rating on February 15, 2022.

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