SmartRent (NYSE:SMRT) Announces Quarterly Earnings Results

SmartRent (NYSE:SMRT) announced its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04), Briefing.com reports. SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The company had revenue of $35.37 million for the quarter, compared to analysts’ expectations of $37.78 million. During the same period in the previous year, the business earned ($0.02) EPS. The business’s revenue was down 41.3% compared to the same quarter last year.

SmartRent Stock Performance

Shares of NYSE SMRT traded down $0.02 during midday trading on Wednesday, hitting $1.26. 461,695 shares of the stock traded hands, compared to its average volume of 1,263,166. The firm has a market capitalization of $241.67 million, a P/E ratio of -9.65 and a beta of 1.90. SmartRent has a one year low of $1.09 and a one year high of $2.98. The firm has a 50-day moving average of $1.53 and a two-hundred day moving average of $1.63.

SmartRent Company Profile

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.