SmartRent shares surge 14.14% after-hours on CEO's $219k insider purchase.

SmartRent (NYSE:SMRT) surged 14.14% in after-hours trading following significant insider purchases. The CEO and President, Frank Martell, acquired $219,000 worth of shares at $1.46 apiece, marking an 11% increase in his holdings, while insiders collectively added shares at prices close to the current $1.45 level. Over the past year, insiders have consistently bought shares without selling, including a prior $305,000 purchase at $1.37 per share. Despite the company reporting a loss over the last twelve months, insider ownership of 10% and recent buying activity signal confidence in SmartRent’s long-term prospects. The purchases, particularly at current valuation levels, suggest insiders view the stock as undervalued or aligned with positive future expectations, driving the sharp after-hours rally.