Now Is A Good Time To Buy SmartRent Inc (NYSE: SMRT)

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During the last session, SmartRent Inc (NYSE:SMRT)’s traded shares were 3.14 million, with the beta value of the company hitting 1.99. At the end of the trading day, the stock’s price was $2.60, reflecting an intraday loss of -0.38% or -$0.01. The 52-week high for the SMRT share is $4.12, that puts it down -58.46 from that peak though still a striking 17.31% gain since the share price plummeted to a 52-week low of $2.15. The company’s market capitalization is $530.06M, and the average intraday trading volume over the past 10 days was 2.23 million shares, and the average trade volume was 1.33 million shares over the past three months.

SmartRent Inc (NYSE:SMRT) trade information

SmartRent Inc (SMRT) registered a -0.38% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.38% in intraday trading to $2.60, hitting a weekly high. The stock’s 5-day price performance is -0.38%, and it has moved by -10.03% in 30 days. Based on these gigs, the overall price performance for the year is 1.96%. The short interest in SmartRent Inc (NYSE:SMRT) is 13.33 million shares and it means that shorts have 10.47 day(s) to cover.

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SmartRent Inc (SMRT) estimates and forecasts

Statistics show that SmartRent Inc has outperformed its competitors in share price, compared to the industry in which it operates. SmartRent Inc (SMRT) shares have gone down -1.14% during the last six months, with a year-to-date growth rate more than the industry average at 82.35% against 17.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 85.70% this quarter and then jump 80.00% in the quarter after that. In the rating firms’ projections, revenue will increase 15.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $51.12 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $54.28 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $65.08 million and $53.4 million respectively. In this case, analysts expect current quarter sales to shrink by -21.40% and then jump by 1.60% in the coming quarter.

While earnings are projected to return 89.22% in 2024.

SMRT Dividends

SmartRent Inc is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

SmartRent Inc (NYSE:SMRT)’s Major holders

SmartRent Inc insiders own 16.65% of total outstanding shares while institutional holders control 59.08%, with the float percentage being 70.88%. Vanguard Group Inc is the largest shareholder of the company, while 167 institutions own stock in it. As of Jun 29, 2023, the company held over 18.26 million shares (or 9.12% of all shares), a total value of $69.95 million in shares.

The next largest institutional holding, with 13.5 million shares, is of Blackrock Inc.’s that is approximately 6.74% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $51.7 million.

Also, the Mutual Funds coming in first place with the largest holdings of SmartRent Inc (SMRT) shares are Vanguard Total Stock Market Index Fund and Financial Investors Tr-Vulcan Value Partners Small Cap Fd. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 5.57 million shares. This amounts to just over 2.78 percent of the company’s overall shares, with a $21.32 million market value. The same data shows that the other fund manager holds slightly less at 5.33 million, or about 2.66% of the stock, which is worth about $21.21 million.