Smartrent Inc Down 10.73% To $2.58 After Earnings

Smartrent Inc (SMRT) said before open Tuesday that it broke even in quarter four 2023.

In the same quarter a year ago, the company lost $0.11 per share on revenue of $40.6 million.

The stock is down 10.73% to $2.58 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Smartrent Inc has performed a little below average during the past few months. Before the report, Smartrent Inc received a Long-Term Technical Rank by InvestorsObserver of 43, putting it in the bottom half of stocks. The firm set a 52-week high on July 14, 2023 at $4.12 and set a 52-week low on April 25, 2023 at $2.15.

SmartRent Inc is an enterprise smart home and smart building technology platform for property owners, managers and residents. The SmartRent solution is designed to provide property managers with seamless visibility and control over all their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents.