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SmartRent Inc (NYSE: SMRT) Is Under Pressure Due To Weak Fundamental Momentum.

In the last trading session, 2.09 million SmartRent Inc (NYSE:SMRT) shares changed hands as the company’s beta touched 2.06. With the company’s per share price at $3.03 changed hands at $0.01 or 0.33% during last session, the market valuation stood at $615.57M. SMRT’s last price was a discount, traded about -35.97% off its 52-week high of $4.12. The share price had its 52-week low at $2.15, which suggests the last value was 29.04% up since then. When we look at SmartRent Inc’s average trading volume, we note the 10-day average is 0.87 million shares, with the 3-month average coming to 1.96.

SmartRent Inc (NYSE:SMRT) trade information

Instantly SMRT was in green as seen at the end of in last trading. With action 2.36%, the performance over the past five days has been green. The jump to weekly highs of 3.12 added 0.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.02%, with the 5-day performance at 2.36% in the green. However, in the 30-day time frame, SmartRent Inc (NYSE:SMRT) is 7.45% up. Looking at the short shares, we see there were 12.8 million shares sold at short interest cover period of 11.95 days.

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SmartRent Inc (SMRT) estimates and forecasts

Data shows that the SmartRent Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -10.62% over the past 6 months, a 56.82% in annual growth rate that is considerably higher than the industry average of 8.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for SmartRent Inc will rise 90.90%, while the growth in revenue is estimated to hit 85.70% for the next quarter. Year-over-year growth is forecast to reach 40.70% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $59.49 million. 4 analysts are of the opinion that SmartRent Inc’s revenue for the quarter ending Mar 2024 will be $65.45 million. The company’s revenue for the corresponding quarters a year ago was $40.55 million and $65.08 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 46.70%. The estimates for the next quarter sales put growth at 0.60%.

The 2024 estimates are for SmartRent Inc earnings to increase by 65.31%.

SMRT Dividends

SmartRent Inc is expected to release its next quarterly earnings report between March 09 and March 14.

On Key

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