SmartRent Inc. (NYSE:SMRT) finished Friday with a subtraction of -$0.09 to close at $3.29, a downside of -2.66 percent. An average of 739,280 shares of common stock have been traded in the last five days. There was a fall of -$0.15 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 981,445 shares traded, while the 50-day average volume stands at 1,458,558.
SMRT stock has decreased by -14.10% in the last month. The company shares reached their 1-month lowest point of $3.20 on 08/10/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $2.03 and a high of $4.12 in 52 weeks. It has reached a new high 17 times so far this year and achieved 35.39% or $0.86 in price. In spite of this, the price is down -20.15% from the 52-week high.
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Insider Transactions
SMRT stock investors should be aware that SmartRent Inc. (SMRT) stock had its last reported insider trading activity 71 days ago on Jun 16. In this transaction, the insider spent $210,492. Chief Technology Officer, DeRose-Wilson Isaiah, disposed of 2,851 shares at a price of $3.50 on Jun 14. The insider now owns more than $9,978 worth of shares. Prior to that, Director Beard Alana went on to Sale 12,000 shares at $3.39 each on May 24. An amount of $40,680 was transacted.
Valuation Metrics
SmartRent Inc. (SMRT) stock’s beta is 1.85. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.14, the price-to-book (PB) ratio at 1.89.
Financial Health
The quick ratio of SmartRent Inc. for the three months ended June 29 was 2.40, and the current ratio was 2.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $1.35 million compared to revenue of $167.82 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SmartRent Inc.’s return on assets was -13.10%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$10.35 million in the quarter, while revenues of -$13.22 million were shrunk -147.25%. The analyst consensus anticipated SmartRent Inc.’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be -$0.05, a 0.00% surprise. For the quarter, EBITDA amounted to -$10.74 million. At the end of the quarter ending June 29, SmartRent Inc.’s stock balance sheet showed total liabilities of 174.28 million. Shareholders own equity worth $200.24 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at SmartRent Inc. (SMRT) price momentum. RSI 9-day as of the close on 25 August was 35.58%, suggesting the stock is Neutral, with historical volatility in this time frame at 40.04%.
As of today, SMRT’s price is $3.40 -4.36% or -$0.15 from its 5-day moving average. SMRT is currently trading -16.50% lower than its 20-day SMA and +27.03% higher than its 100-day SMA. However, the stock’s current price level is -4.64% below the SMA50 and +29.02% above the SMA200.
The stochastic %K and %D were 31.62% and 34.83%, respectively, and the average true range (ATR) was 0.19. With the 14-day stochastic at 15.25% and the average true range at 0.19, the RSI (14) stands at 38.36%. The stock has reached 0.01 on the 9-day MACD Oscillator while the 14-day reading was at 0.00.
Analyst Ratings
Imperial Capital launched coverage on SmartRent Inc. (NYSE: SMRT) in its analyst report released on August 16, 2022. The firm assigned the stock an Outperform rating. The consensus rating for SmartRent Inc. (SMRT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SMRT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is SMRT’s price target for the next 12 months?
Analysts predict a range of price targets between $3.40 and $7.00, with a median target of $5.00. Taking a look at these predictions, the average price target given by analysts for SmartRent Inc. (SMRT) stock is $4.91.
