SmartRent Inc (NYSE: SMRT): Reassessing Prospects

SmartRent Inc (SMRT) concluded trading on Thursday at a closing price of $1.77, with 2.75 million shares of worth about $4.87 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -33.96% during that period and on September 19, 2024 the price saw a gain of about 1.72%. Currently the company’s common shares owned by public are about 203.33M shares, out of which, 180.41M shares are available for trading.

Stock saw a price change of 1.14% in past 5 days and over the past one month there was a price change of 5.99%. Year-to-date (YTD), SMRT shares are showing a performance of -44.51% which decreased to -37.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.35 but also hit the highest price of $3.47 during that period. The average intraday trading volume for SmartRent Inc shares is 1.74 million. The stock is currently trading 3.87% above its 20-day simple moving average (SMA20), while that difference is down -5.35% for SMA50 and it goes to -29.72% lower than SMA200.

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SmartRent Inc (NYSE: SMRT) currently have 203.33M outstanding shares and institutions hold larger chunk of about 60.82% of that.

The stock has a current market capitalization of $358.23M and its 3Y-monthly beta is at 1.96. It has posted earnings per share of -$0.12 in the same period. It has Quick Ratio of 2.67 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 6.02% while standing at 5.80% over the month.

Stock’s fiscal year EPS is expected to rise by 42.35% while it is estimated to increase by 42.86% in next year.

Coverage by Cantor Fitzgerald stated SmartRent Inc (SMRT) stock as a Neutral in their note to investors on August 08, 2024, suggesting a price target of $2 for the stock. On August 02, 2024, BTIG Research Downgrade their recommendations, while on July 31, 2024, DA Davidson Downgrade their ratings for the stock with a price target of $2. Stock get a Neutral rating from Colliers Securities on July 31, 2024.

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