SmartRent Inc. [SMRT] Stock trading around $2.71 per share: What’s Next?

SmartRent Inc. [NYSE: SMRT] closed the trading session at $2.71 on 09/21/22. The day’s price range saw the stock hit a low of $2.4419, while the highest price level was $2.82. The company report on September 6, 2022 that SmartRent to Present at Goldman Sachs Communacopia + Technology Conference.

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SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), a recognized enterprise property technology leader designed by and for real estate operators, today announced it will present to institutional investors at the Goldman Sachs Communacopia + Technology Conference at The Palace Hotel in San Francisco on Thursday, September 15, 2022.

Lucas Haldeman, CEO of SmartRent, will participate in a fireside chat at 2:30 PM Eastern Time on Thursday, September 15, 2022. A live webcast and replay of the discussion will be available on SmartRent’s Investor Relations website. Mr. Haldeman and SmartRent’s CFO, Hiroshi Okamoto, will also be available for one-on-one meetings with investors at the conference.

The stocks have a year to date performance of -72.00 percent and weekly performance of -7.51 percent. The stock has been moved at -61.12 percent over the last six months. The stock has performed -22.35 percent around the most recent 30 days and changed -44.69 percent over the most recent 3-months.

If compared to the average trading volume of 1.93M shares, SMRT reached to a volume of 6473992 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SmartRent Inc. [SMRT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMRT shares is $5.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMRT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Imperial Capital have made an estimate for SmartRent Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on July 22, 2022, representing the official price target for SmartRent Inc. stock. Previously, the target price had yet another raise to $8, while Compass Point analysts kept a Buy rating on SMRT stock.

The Average True Range (ATR) for SmartRent Inc. is set at 0.26, with the Price to Sales ratio for SMRT stock in the period of the last 12 months amounting to 3.77. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 1.23.

SMRT stock trade performance evaluation

SmartRent Inc. [SMRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.51. With this latest performance, SMRT shares dropped by -22.35% in over the last four-week period, additionally sinking by -61.12% over the last 6 months – not to mention a drop of -79.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMRT stock in for the last two-week period is set at 33.87, with the RSI for the last a single of trading hit 33.92, and the three-weeks RSI is set at 35.66 for SmartRent Inc. [SMRT]. The present Moving Average for the last 50 days of trading for this stock 4.06, while it was recorded at 2.69 for the last single week of trading, and 5.97 for the last 200 days.

SmartRent Inc. [SMRT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SmartRent Inc. [SMRT] shares currently have an operating margin of -64.76 and a Gross Margin at -9.10. SmartRent Inc.’s Net Margin is presently recorded at -65.04.

Return on Equity for this stock declined to -32.02, with Return on Assets sitting at -24.82.

SmartRent Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.80.

SmartRent Inc. [SMRT]: Insider Ownership positions

There are presently around $298 million, or 53.50% of SMRT stock, in the hands of institutional investors. The top three institutional holders of SMRT stocks are: BAIN CAPITAL VENTURE INVESTORS, LLC with ownership of 21,722,649, which is approximately -1.138% of the company’s market cap and around 5.80% of the total institutional ownership; VULCAN VALUE PARTNERS, LLC, holding 16,740,465 shares of the stock with an approximate value of $45.37 million in SMRT stocks shares; and SPARK GROWTH MANAGEMENT PARTNERS II, LLC, currently with $31.75 million in SMRT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in SmartRent Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 68 institutional holders increased their position in SmartRent Inc. [NYSE:SMRT] by around 24,210,272 shares. Additionally, 41 investors decreased positions by around 8,564,226 shares, while 15 investors held positions by with 77,335,924 shares. The mentioned changes placed institutional holdings at 110,110,422 shares, according to the latest SEC report filing. SMRT stock had 46 new institutional investments in for a total of 8,016,025 shares, while 27 institutional investors sold positions of 4,882,615 shares during the same period.


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