In last trading session, SmartRent Inc. (NYSE:SMRT) saw 5.79 million shares changing hands with its beta currently measuring 1.87. Company’s recent per share price level of $2.91 trading at $0.11 or 3.93% at ring of the bell on the day assigns it a market valuation of $584.56M. That closing price of SMRT’s stock is at a discount of -41.58% from its 52-week high price of $4.12 and is indicating a premium of 30.24% from its 52-week low price of $2.03. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.02 million shares which gives us an average trading volume of 1.50 million if we extend that period to 3-months.
For SmartRent Inc. (SMRT), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 6 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.04 in the current quarter.
SmartRent Inc. (NYSE:SMRT) trade information
Upright in the green during last session for gaining 3.93%, in the last five days SMRT remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $2.91 price level, adding 3.96% to its value on the day. SmartRent Inc.’s shares saw a change of 19.75% in year-to-date performance and have moved -5.21% in past 5-day. SmartRent Inc. (NYSE:SMRT) showed a performance of -13.39% in past 30-days. Number of shares sold short was 9.26 million shares which calculate 9.05 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $4.91 to the stock, which implies a rise of 40.73% to its current value. Analysts have been projecting $3.40 as a low price target for the stock while placing it at a high target of $7.00. It follows that stock’s current price would drop -140.55% in reaching the projected high whereas dropping to the targeted low would mean a loss of -16.84% for stock’s current value.
SmartRent Inc. (SMRT) estimates and forecasts
Statistics highlight that SmartRent Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 23.31% of value to its shares in past 6 months, showing an annual growth rate of 56.82% while that of industry is 17.90. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 69.20% in the current quarter and calculating 81.80% increase in the next quarter. This year revenue growth is estimated to rise 44.20% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $59.86 million for the same. And 5 analysts are in estimates of company making revenue of $65.25 million in the next quarter that will end on Dec 2023. Company posted $47.5 million and $40.55 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 26.00% while estimating it to be 60.90% for the next quarter.
SmartRent Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
SmartRent Inc. (NYSE:SMRT)’s Major holders
Insiders are in possession of 20.57% of company’s total shares while institution are holding 50.49 percent of that, with stock having share float percentage of 63.57%. Investors also watch the number of corporate investors in a company very closely, which is 50.49% institutions for SmartRent Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at SMRT for having 18.26 million shares of worth $69.95 million. And as of Jun 29, 2023, it was holding 9.12% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 13.5 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.74% of outstanding shares, having a total worth of $51.7 million.
On the other hand, Financial Investors Tr-Vulcan Value Partners Small Cap Fd and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Apr 29, 2023, the former fund manager was holding 8.08 million shares of worth $20.85 million or 4.04% of the total outstanding shares. The later fund manager was in possession of 5.57 million shares on Jun 29, 2023, making its stake of worth around $21.32 million in the company or a holder of 2.78% of company’s stock.