SmartRent Inc (NYSE: SMRT) Stock: Will It Keep Climbing Higher?

In the last trading session, 5.54 million shares of the SmartRent Inc (NYSE:SMRT) were traded, and its beta was 2.00. Most recently the company’s share price was $2.68, and it changed around -$0.04 or -1.47% from the last close, which brings the market valuation of the company to $546.37M. SMRT currently trades at a discount to its 52-week high of $4.12, offering almost -53.73% off that amount. The share price’s 52-week low was $2.15, which indicates that the current value has risen by an impressive 19.78% since then. We note from SmartRent Inc’s average daily trading volume that its 10-day average is 2.24 million shares, with the 3-month average coming to 1.23 million.

SmartRent Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended SMRT as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. SmartRent Inc is expected to report earnings per share of -$0.01 for the current quarter.

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SmartRent Inc (NYSE:SMRT) trade information

Instantly SMRT has showed a red trend with a performance of -1.47% at the end of last trading. On the other hand, SmartRent Inc (NYSE:SMRT) is -7.90% down in the 30-day period. We can see from the shorts that 13.33 million shares have been sold at a short interest cover period of 10.47 day(s).

The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 55.33% from its current value. Analyst projections state that SMRT is forecast to be at a low of $6 and a high of $6.

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 risen 2.29 percent over the past six months and at a 82.35% annual growth rate that is well above the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 85.70% in revenue this quarter, and will report an increase of 80.00% in the next quarter. The year-over-year growth rate is expected to be 15.30%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $51.12 million in revenue for the current quarter. 5 analysts expect SmartRent Inc to make $54.28 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $65.08 million and $53.4 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -21.40%. Forecasts for the next quarter put sales growth at 1.60%.

SMRT Dividends

SmartRent Inc’s next quarterly earnings report is expected to be released around May 11 and May 16.

SmartRent Inc (NYSE:SMRT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.65% of SmartRent Inc shares, and 59.08% of them are in the hands of institutional investors. The stock currently has a share float of 70.88%. SmartRent Inc stock is held by 167 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 9.74% of the shares, which is about 19.86 million shares worth $53.22 million.

Blackrock Inc., with 7.32% or 14.92 million shares worth $39.98 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Financial Investors Tr-Vulcan Value Partners Small Cap Fd were the top two Mutual Funds as of Dec 30, 2023. The former held 5.57 million shares worth $14.92 million, making up 2.73% of all outstanding shares. On the other hand, Financial Investors Tr-Vulcan Value Partners Small Cap Fd held roughly 4.61 million shares worth around $12.35 million, which represents about 2.26% of the total shares outstanding.