Keefe Bruyette has recently reduced SmartRent Inc (SMRT) stock to Mkt Perform rating, as announced on August 8, 2024, according to Finviz. Earlier, on August 8, 2024, Cantor Fitzgerald had reduced the stock from a Overweight to Neutral, setting a price target of $2 for SMRT stock. BTIG Research also reduced Neutral rating. Additionally, DA Davidson reduced Neutral rating on July 31, 2024, with a target price of $2. Colliers Securities analysts, in their report published on July 31, 2024, also reduced Neutral rating for SmartRent Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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SmartRent Inc (SMRT) Stock Trading Recap
On Tuesday, SmartRent Inc (SMRT) stock saw a decline, ending the day at $1.64 which represents a decrease of $-0.09 or -5.20% from the prior close of $1.73. The stock opened at $1.72 and touched a low of $1.62 during the day, reaching a high of $1.74. The volume of shares traded was 1.45 million falling short of the average volume of 1.76 million.
SMRT Stock Performance and Moving Averages
In recent trading, SmartRent Inc (SMRT) stock price has shown some volatility, fluctuating -4.09% over the last five trades and -3.53% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -37.16%, and it has plunged by -30.80% in the previous three months. Currently, SMRT is trading at -4.43%, -7.21%, and -33.30% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SMRT, a Technology sector stock, is trading -52.74% below its 52-week high but remains 21.48% above its 52-week low. The Average True Range (ATR) (14 days) of 0.1 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
SmartRent Inc’s Profitability and Valuation Ratios
SmartRent Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -11.51% and a profit margin of -10.73%, with a gross margin of -37.16%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, SmartRent Inc’s market capitalization stands at $331.92 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 1.53, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.01, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 10.86% of SmartRent Inc (SMRT)’s shares, while financial institutions hold 60.86%.
