SmartRent Inc. (NYSE: SMRT) stock fell -31.91% on Friday to $3.82 against a previous-day closing price of $5.61. With 6.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.36 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $4.9590 whereas the lowest price it dropped to was $3.7200. The 52-week range on SMRT shows that it touched its highest point at $15.14 and its lowest point at $3.55 during that stretch. It currently has a 1-year price target of $6.22.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMRT was down-trending over the past week, with a drop of -33.22%, but this was down by -14.54% over a month. Three-month performance dropped to -7.06% while six-month performance fell -58.48%. The stock lost -69.43% in the past year, while it has lost -60.54% so far this year. A look at the trailing 12-month EPS for SMRT yields 0.10 with Next year EPS estimates of -0.20. For the next quarter, that number is -0.10. This implies an EPS growth rate of 59.40% for this year and 66.70% for next year.
Float and Shares Shorts:
At present, 193.06 million SMRT shares are outstanding with a float of 145.96 million shares on hand for trading. On Jul 14, 2022, short shares totaled 9.5 million, which was 4.86% higher than short shares on Jun 14, 2022. In addition to Mr. Lucas Merwan Haldeman as the firm’s Co-Founder, Chairman & CEO, Mr. Isaiah Derose-Wilson serves as its Co-Founder & CTO.
Through their ownership of 46.82% of SMRT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 36.34% of SMRT, in contrast to 19.48% held by mutual funds. Shares owned by individuals account for 16.74%. As the largest shareholder in SMRT with 8.14% of the stake, Vulcan Value Partners LLC holds 15,903,987 shares worth 15,903,987. A second-largest stockholder of SMRT, The Vanguard Group, Inc., holds 9,041,274 shares, controlling over 4.63% of the firm’s shares. Long Pond Capital LP is the third largest shareholder in SMRT, holding 7,443,720 shares or 3.81% stake. With a 4.94% stake in SMRT, the Vulcan Value Partners Small Cap F is the largest stakeholder. A total of 9,646,691 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.47% of SMRT stock, is the second-largest Mutual Fund holder. It holds 2,873,494 shares valued at 16.26 million. iShares Russell 2000 ETF holds 1.34% of the stake in SMRT, owning 2,613,645 shares worth 14.79 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMRT since 8 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SMRT analysts setting a high price target of $8.00 and a low target of $4.50, the average target price over the next 12 months is $6.22. Based on these targets, SMRT could surge 109.42% to reach the target high and rise by 17.8% to reach the target low. Reaching the average price target will result in a growth of 62.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SMRT will report FY 2022 earnings on 03/23/2023. Analysts have provided yearly estimates in a range of -$0.27 being high and -$0.52 being low. For SMRT, this leads to a yearly average estimate of -$0.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SmartRent Inc. surprised analysts by -$0.02 when it reported -$0.13 EPS against a consensus estimate of -$0.11. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.05 and the low estimate is -$0.13. The average estimate for the next quarter is thus -$0.10.
Summary of Insider Activity:
Insiders traded SMRT stock several times over the past three months with 44 Buys and 53 Sells. In these transactions, 3,123,597 shares were bought while 12,603,224 shares were sold. The number of buy transactions has increased to 88 while that of sell transactions has risen to 68 over the past year. The total number of shares bought during that period was 39,646,730 while 19,855,681 shares were sold.