SmartRent Inc. [NYSE: SMRT] slipped around -0.24 points on Friday, while shares priced at $2.24 at the close of the session, down -9.68%. The company report on October 13, 2022 that SmartRent to Report Third Quarter 2022 Financial Results on Thursday, November 10.
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SmartRent, Inc. (NYSE: SMRT), a leading provider of smart home and smart building automation for residents, property owners, managers, developers and homebuilders, today announced it will release third quarter 2022 financial results on Thursday, November 10, 2022, following the market close. On that day, Lucas Haldeman, Chief Executive Officer, and Hiroshi Okamoto, Chief Financial Officer, will host a conference call and webcast at 4:30 p.m. ET to discuss the Company’s performance. The press release and supporting materials will be available in the Events and Presentations section of the Company’s Investor Relations website.
SmartRent Inc. stock is now -76.86% down from its year-to-date (YTD) trading value. SMRT Stock saw the intraday high of $2.53 and lowest of $2.23 per share. The company’s 52-week high price is 14.74, which means current price is +2.05% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 1.71M shares, SMRT reached a trading volume of 12833976 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $5.53 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 0.19, with the Price to Sales ratio for SMRT stock in the period of the last 12 months amounting to 3.28. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 1.16.
How has SMRT stock performed recently?
SmartRent Inc. [SMRT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.67. With this latest performance, SMRT shares dropped by -21.95% in over the last four-week period, additionally sinking by -55.91% over the last 6 months – not to mention a drop of -81.58% 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 37.74, with the RSI for the last a single of trading hit 38.27, and the three-weeks RSI is set at 37.64 for SmartRent Inc. [SMRT]. The present Moving Average for the last 50 days of trading for this stock 3.15, while it was recorded at 2.37 for the last single week of trading, and 5.28 for the last 200 days.
SmartRent Inc. [SMRT]: Deeper insight into the 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.
Insider trade positions for SmartRent Inc. [SMRT]
There are presently around $247 million, or 42.60% 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 5.90% of the total institutional ownership; VULCAN VALUE PARTNERS, LLC, holding 16,740,465 shares of the stock with an approximate value of $37.5 million in SMRT stocks shares; and SPARK GROWTH MANAGEMENT PARTNERS II, LLC, currently with $26.24 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 November and at the time of the November reporting period, where 67 institutional holders increased their position in SmartRent Inc. [NYSE:SMRT] by around 24,186,500 shares. Additionally, 41 investors decreased positions by around 8,545,572 shares, while 15 investors held positions by with 77,386,757 shares. The mentioned changes placed institutional holdings at 110,118,829 shares, according to the latest SEC report filing. SMRT stock had 45 new institutional investments in for a total of 8,001,898 shares, while 26 institutional investors sold positions of 4,863,783 shares during the same period.