SmartRent Inc (NYSE: SMRT) stock jumped 3.17% on Friday to $2.93 against a previous-day closing price of $2.84. With 0.92 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.17 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $2.9300 whereas the lowest price it dropped to was $2.7400. The 52-week range on SMRT shows that it touched its highest point at $4.12 and its lowest point at $2.03 during that stretch. It currently has a 1-year price target of $4.60. Beta for the stock currently stands at 1.99.
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 -3.30%, but this was up by 20.08% over a month. Three-month performance dropped to -12.80% while six-month performance fell -14.58%. The stock gained 3.90% in the past year, while it has gained 20.58% so far this year. A look at the trailing 12-month EPS for SMRT yields -0.26 with Next year EPS estimates of 0.04. For the next quarter, that number is -0.01. This implies an EPS growth rate of 65.48% for this year and 122.75% for next year.
Float and Shares Shorts:
At present, 198.53 million SMRT shares are outstanding with a float of 166.02 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.01 million, which was 6.40% higher than short shares on Sep 28, 2023. In addition to Mr. Lucas Merwan Haldeman as the firm’s Founder, Chairman & CEO, Mr. Isaiah Derose-Wilson serves as its Co-Founder & CTO.
Institutional Ownership:
Through their ownership of 50.49% of SMRT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 33.22% of SMRT, in contrast to 27.22% held by mutual funds. Shares owned by individuals account for 23.50%. As the largest shareholder in SMRT with 9.42% of the stake, The Vanguard Group, Inc. holds 18,869,913 shares worth 18,869,913. A second-largest stockholder of SMRT, BlackRock Fund Advisors, holds 11,805,383 shares, controlling over 5.90% of the firm’s shares. Vulcan Value Partners LLC is the third largest shareholder in SMRT, holding 10,431,183 shares or 5.21% stake. With a 2.78% stake in SMRT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,566,988 shares are owned by the mutual fund manager. The Vulcan Value Partners Small Cap F, which owns about 2.66% of SMRT stock, is the second-largest Mutual Fund holder. It holds 5,329,207 shares valued at 12.84 million. iShares Russell 2000 ETF holds 2.14% of the stake in SMRT, owning 4,282,993 shares worth 10.32 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMRT since 0 analysts follow the stock currently. 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 $5.00 and a low target of $3.20, the average target price over the next 12 months is $4.60. Based on these targets, SMRT could surge 70.65% to reach the target high and rise by 9.22% to reach the target low. Reaching the average price target will result in a growth of 57.0% from current levels.
Summary of Insider Activity:
Insiders traded SMRT stock several times over the past three months with 19 Buys and 13 Sells. In these transactions, 102,672 shares were bought while 19,987 shares were sold. The number of buy transactions has increased to 136 while that of sell transactions has risen to 115 over the past year. The total number of shares bought during that period was 2,762,082 while 5,938,834 shares were sold.
