Wall Street Analyst Initiated SmartRent Inc [SMRT]. What else is Wall St. saying

SmartRent Inc [NYSE: SMRT] traded at a low on Wednesday, posting a -0.38 loss after which it closed the day’ session at $2.60. The company report on March 22, 2024 at 8:00 AM that SmartRent Names Alison Dean to Board of Directors.

Technology and financial veteran lends expertise to leading smart home provider.

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SmartRent, Inc. (NYSE: SMRT), the leading provider of smart communities and smart operations solutions for the rental housing industry, today announced the addition of Alison Dean, a renowned corporate technology and finance expert, and former iRobot CFO (NASDAQ: IRBT), to its Board of Directors and Audit Committee. SmartRent retained Korn Ferry, a notable executive recruiting firm, to conduct the search to fill the company’s open board seat.

The results of the trading session contributed to over 3143493 shares changing hands. Over the past one week, the price volatility of SmartRent Inc stands at 4.68% while the volatility over the past one month is 5.46%.

The market cap for SMRT stock reached $530.06 million, with 203.33 million shares outstanding and 166.98 million shares in the current float. Compared to the average trading volume of 1.33M shares, SMRT reached a trading volume of 3143493 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 $4.32 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 1.29. 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.

BTIG Research have made an estimate for SmartRent Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2024. While these analysts kept the previous recommendation, Imperial Capital raised their target price to Outperform. The new note on the price target was released on August 16, 2022, representing the official price target for SmartRent Inc stock. Previously, the target price had yet another raise to $6, while Cantor Fitzgerald analysts kept a Overweight rating on SMRT stock.

The Average True Range (ATR) for SmartRent Inc is set at 0.14, with the Price to Sales ratio for SMRT stock in the period of the last 12 months amounting to 2.24. The Price to Book ratio for the last quarter was 1.54, with the Price to Cash per share for the same quarter was set at 1.06. Price to Free Cash Flow for SMRT in the course of the last twelve months was 90.92 with Quick ratio for the last quarter at 2.45.

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 -0.38. With this latest performance, SMRT shares dropped by -10.03% in over the last four-week period, additionally sinking by -1.14% over the last 6 months – not to mention a rise of 1.96% 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 38.36, with the RSI for the last a single of trading hit 36.26, and the three-weeks RSI is set at 40.41 for SmartRent Inc [SMRT]. The present Moving Average for the last 50 days of trading for this stock 2.86, while it was recorded at 2.65 for the last single week of trading, and 3.09 for the last 200 days.

SmartRent Inc [SMRT]: Deeper insight into the fundamentals

SmartRent Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.45 and a Current Ratio set at 2.80.

Earnings analysis for SmartRent Inc [SMRT]

With the latest financial reports released by the company, SmartRent Inc posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMRT.

Insider trade positions for SmartRent Inc [SMRT]

The top three institutional holders of SMRT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SMRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SMRT stock with ownership which is approximately 5.8386%.