In the last trading session, 1.21 million shares of the SmartRent Inc (NYSE:SMRT) were traded, and its beta was 1.93. Most recently the company’s share price was $1.48, and it changed around $0.04 or 2.78% from the last close, which brings the market valuation of the company to $285.00M. SMRT currently trades at a discount to its 52-week high of $3.47, offering almost -134.46% off that amount. The share price’s 52-week low was $1.17, which indicates that the current value has risen by an impressive 20.95% since then. We note from SmartRent Inc’s average daily trading volume that its 10-day average is 1.57 million shares, with the 3-month average coming to 1.51 million.
SmartRent Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended SMRT as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. SmartRent Inc is expected to report earnings per share of -0.03 for the current quarter.
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SmartRent Inc (NYSE:SMRT) trade information
Instantly SMRT has showed a green trend with a performance of 2.78% 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 1.5200 on recent trading dayincreased the stock’s daily price by 2.63%. The company’s shares are currently down -53.61% year-to-date, but still up 0.68% over the last five days. On the other hand, SmartRent Inc (NYSE:SMRT) is -14.94% down in the 30-day period. We can see from the shorts that 7.96 million shares have been sold at a short interest cover period of 8.47 day(s).
The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to increase their stock price by 63.0% from its current value. Analyst projections state that SMRT is forecast to be at a low of $2 and a high of $6.
SmartRent Inc (SMRT) estimates and forecasts
SmartRent Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -41.96 percent over the past six months and at a 17.65% annual growth rate that is well below the industry average of 19.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -368.75% in revenue this quarter, and will report an increase of 37.50% in the next quarter. The year-over-year growth rate is expected to be -25.14%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 37.78M in revenue for the current quarter. 4 analysts expect SmartRent Inc to make 44.52M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 60.25M and 50.49M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -37.30%. Forecasts for the next quarter put sales growth at -11.82%.
SMRT Dividends
SmartRent Inc’s next quarterly earnings report is expected to be released in December.
SmartRent Inc (NYSE:SMRT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.77% of SmartRent Inc shares, and 59.40% of them are in the hands of institutional investors. The stock currently has a share float of 68.09%. SmartRent Inc stock is held by 176.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.3325% of the shares, which is about 16.96 million shares worth $40.52 million.
BLACKROCK INC., with 7.5347% or 15.33 million shares worth $36.64 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
