Check Out SmartRent Inc. (SMRT)’s Trade Data Rather Than the Analysts’ Views

SmartRent Inc. (NYSE: SMRT) stock jumped 7.89% on Friday to $2.87 against a previous-day closing price of $2.66. With 1.03 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.99 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.8700 whereas the lowest price it dropped to was $2.5400. The 52-week range on SMRT shows that it touched its highest point at $9.71 and its lowest point at $2.03 during that stretch. It currently has a 1-year price target of $4.84.

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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 up-trending over the past week, with a rise of 7.09%, but this was up by 30.45% over a month. Three-month performance surged to 25.88% while six-month performance fell -45.02%. The stock lost -61.63% in the past year, while it has gained 18.11% so far this year. A look at the trailing 12-month EPS for SMRT yields -0.52 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.10. This implies an EPS growth rate of 50.00% for this year and 52.10% for next year.

Float and Shares Shorts:

At present, 196.49 million SMRT shares are outstanding with a float of 143.18 million shares on hand for trading. On Oct 13, 2022, short shares totaled 11.28 million, which was 5.70% higher than short shares on Sep 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.

Institutional Ownership:

Through their ownership of 36.69% of SMRT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.11% of SMRT, in contrast to 23.72% held by mutual funds. Shares owned by individuals account for 20.44%. As the largest shareholder in SMRT with 8.41% of the stake, Vulcan Value Partners LLC holds 16,686,231 shares worth 16,686,231. A second-largest stockholder of SMRT, The Vanguard Group, Inc., holds 12,442,134 shares, controlling over 6.27% of the firm’s shares. Long Pond Capital LP is the third largest shareholder in SMRT, holding 11,903,445 shares or 6.00% stake. With a 5.14% stake in SMRT, the Vulcan Value Partners Small Cap F is the largest stakeholder. A total of 10,193,291 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.02% of SMRT stock, is the second-largest Mutual Fund holder. It holds 4,002,742 shares valued at 9.73 million. Baron Discovery Fund holds 2.02% of the stake in SMRT, owning 4,000,000 shares worth 9.72 million.

Analysts Ratings:

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 $6.00 and a low target of $2.90, the average target price over the next 12 months is $4.97. Based on these targets, SMRT could surge 109.06% to reach the target high and rise by 1.05% to reach the target low. Reaching the average price target will result in a growth of 73.17% 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 03/21/2024. Analysts have provided yearly estimates in a range of -$0.46 being high and -$0.50 being low. For SMRT, this leads to a yearly average estimate of -$0.48. 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 -$0.08 and the low estimate is -$0.11. 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 28 Buys and 24 Sells. In these transactions, 1,921,285 shares were bought while 5,699,006 shares were sold. The number of buy transactions has increased to 132 while that of sell transactions has risen to 130 over the past year. The total number of shares bought during that period was 10,705,107 while 32,140,622 shares were sold.

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