Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SmartRent Inc. shares valued at $60,300 were sold by Edmonds Christopher Jon on Jun 02. At $6.03 per share, Edmonds Christopher Jon sold 10,000 shares. The insider’s holdings dropped to 155,743 shares worth approximately $0.79 million following the completion of this transaction.
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Also, DeRose-Wilson Isaiah sold 50,000 shares, netting a total of over 261,000 in proceeds. Following the sale of shares at $5.22 each, the insider now holds 1,690 shares.
Before that, Barnes Demetrios had sold 50,000 shares from its account. In a trade valued at $245,000, the Chief Operating Officer traded SmartRent Inc. shares for $4.90 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $8551.4.
As published in their initiating research note from Compass Point on May 25, 2022, SmartRent Inc. [SMRT] has been a Buy and the price target has been revised to $8. This represents a 36.75% premium over Thursday’s closing price. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid February. As of February 14, 2022, Keefe Bruyette has initiated its “an Outperform” rating for SMRT. Earlier on February 08, 2022, Colliers Securities initiated its rating. Their recommendation was “a Buy” for SMRT stock.
Analyzing SMRT’s Price Performance
On Thursday, SmartRent Inc. [NYSE: SMRT] rose 3.27% to $5.06. The stock’s lowest price that day was $4.77, but it reached a high of $5.07 in the same session. During the last five days, there has been a drop of approximately -2.50%. Over the course of the year, SmartRent Inc. shares have dropped approximately -47.73%. Shares of the company reached a 52-week high of $9.83 on 01/03/22 and a 52-week low of $3.55 on 05/11/22. A 50-day SMA is recorded $5.10, while a 200-day SMA reached $8.42. Nevertheless, trading volume fell to 1.85 million shares from 1.44 million shares the previous day.
Support And Resistance Levels for SmartRent Inc. (SMRT)
According to the 24-hour chart, there is a support level at 4.86, which, if violated, would cause prices to drop to 4.67. In the upper region, resistance lies at 5.16. The next price resistance is at 5.27. RSI (Relative Strength Index) is 46.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 80.95%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of SmartRent Inc. (SMRT)?
According to Vulcan Value Partners LLC filings, the company currently owns 15,903,987 shares, which is about 8.14% of the total SMRT shares outstanding. The investor’s shares have appreciated by 6,851,061 from its previous 13-F filing of 9052926.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $44,853,886. BAMCO, Inc. reduced a -14.38% interest valued at $43.31 million while Long Pond Capital LP purchased a 4,448,464 stake. A total of 0 shares of SmartRent Inc. were bought by Koch Industries, Inc. during the quarter, and 0 were sold by Tikvah Management LLC. In its current portfolio, Oaktree Capital Management LP holds 1,571,047 shares valued at $9.44 million.
In terms of SmartRent Inc. share price expectations, FactSet research, analysts set an average price target of $6.49 in the next 12 months, up nearly 37.76% from the previous closing price of $4.90. Analysts anticipate SmartRent Inc. stock to reach $8.00 by 2022, with the lowest price target being $4.90. In spite of this, 8 analysts ranked SmartRent Inc. stock as a Buy at the end of 2022. On January 21, 2022, DA Davidson assigned a price target of “a Buy” to the stock and initiated coverage with a $14.