SMRT stock rated a Buy by BTIG Research

In a filing, SmartRent Inc revealed its Director Beard Alana unloaded Company’s shares for reported $9960.0 on Dec 14. In the deal valued at $3.32 per share,3,000 shares were sold. As a result of this transaction, Beard Alana now holds 67,412 shares worth roughly $0.2 million.

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Then, STROHM BRUCE C bought 44,000 shares, generating $131,120 in total proceeds. Upon buying the shares at $2.98, the Director now owns 226,561 shares.

Before that, STROHM BRUCE C bought 41,149 shares. SmartRent Inc shares valued at $117,275 were divested by the Director at a price of $2.85 per share. As a result of the transaction, STROHM BRUCE C now holds 182,561 shares, worth roughly $0.55 million.

BTIG Research initiated its SmartRent Inc [SMRT] rating to a Buy in a research note published on Monday, January 19, 2024; the price target was $4.50.

Price Performance Review of SMRT

On Monday, SmartRent Inc [NYSE:SMRT] saw its stock jump 0.33% to $3.03. Over the last five days, the stock has gained 2.36%. SmartRent Inc shares have fallen nearly -5.02% since the year began. Nevertheless, the stocks have risen 11.40% over the past one year. While a 52-week high of $4.12 was reached on 01/23/24, a 52-week low of $2.15 was recorded on 01/17/24. SMA at 50 days reached $3.10, while 200 days put it at $3.16. A total of 2.09 million shares were traded, compared to the trading of 0.96 million shares in the previous session.

Levels Of Support And Resistance For SMRT Stock

The 24-hour chart illustrates a support level at 2.98, which if violated will result in even more drops to 2.94. On the upside, there is a resistance level at 3.09. A further resistance level may holdings at 3.16. The Relative Strength Index (RSI) on the 14-day chart is 49.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.81%. Stochastics %K at 26.73% indicates the stock is a holding.

How much short interest is there in SmartRent Inc?

A steep rise in short interest was recorded in SmartRent Inc stocks on Jan 31, 2024, growing by 1.93 million shares to a total of 12.8 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 10.87 million shares. There was a rise of 15.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.95.

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