In the last trading session, 1.79 million shares of the SmartRent Inc. (NYSE:SMRT) were traded. Most recently the company’s share price was $5.33, and it changed around -$0.09 or -1.66% from the last close, which brings the market valuation of the company to $925.87M. SMRT currently trades at a discount to its 52-week high of $15.14, offering almost -184.05% off that amount. The share price’s 52-week low was $3.55, which indicates that the current value has risen by an impressive 33.4% since then. We note from SmartRent Inc.’s average daily trading volume that its 10-day average is 1.49 million shares, with the 3-month average coming to 1.31 million.
SmartRent Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended SMRT as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. SmartRent Inc. is expected to report earnings per share of -$0.09 for the current quarter.
SmartRent Inc. (NYSE:SMRT) trade information
Instantly SMRT has showed a red trend with a performance of -1.66% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.70 on Tuesday, 06/21/22 increased the stock’s daily price by 6.49%. The company’s shares are currently down -44.94% year-to-date, but still up 9.67% over the last five days. On the other hand, SmartRent Inc. (NYSE:SMRT) is 2.11% up in the 30-day period. We can see from the shorts that 5.67 million shares have been sold at a short interest cover period of 5.37 day(s).
The consensus price target as assigned by Wall Street analysts is $6.49, which translates to bulls needing to increase their stock price by 17.87% from its current value. Analyst projections state that SMRT is forecast to be at a low of $4.90 and a high of $8.00. In order for the stock price to hit the forecast high, the stock would need to plunge -50.09% from its current level, while the stock would need to crash 8.07% from its current level to reach the projected low.
SmartRent Inc. (SMRT) estimates and forecasts
SmartRent Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -47.44 percent over the past six months and at a 57.29% annual growth rate that is well above the industry average of 14.50%. The year-over-year growth rate is expected to be 114.10%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $48.89 million in revenue for the current quarter. 6 analysts expect SmartRent Inc. to make $76.09 million in revenue for the quarter ending Sep 2022. Forecasts for the next quarter put sales growth at 118.00%.
SmartRent Inc.’s next quarterly earnings report is expected to be released on November 10.
SmartRent Inc. (NYSE:SMRT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 31.41% of SmartRent Inc. shares, and 42.01% of them are in the hands of institutional investors. The stock currently has a share float of 61.24%. SmartRent Inc. stock is held by 87 institutions, with Bain Capital Venture Investors, LLC being the largest institutional investor. By Dec 30, 2021, it held 11.32% of the shares, which is about 21.97 million shares worth $212.7 million.
Spark Growth Management Partners II, LLC, with 6.04% or 11.72 million shares worth $59.28 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Financial Investors Tr-Vulcan Value Partners Small Cap Fd and Baron Small Cap Fund were the top two Mutual Funds as of Jan 30, 2022. The former held 7.38 million shares worth $56.65 million, making up 3.80% of all outstanding shares. On the other hand, Baron Small Cap Fund held roughly 4.0 million shares worth around $38.72 million, which represents about 2.06% of the total shares outstanding.