Phunware (NASDAQ:PHUN) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Phunware (NASDAQ:PHUN) released its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02, Zacks reports. Phunware had a negative return on equity of 10.32% and a negative net margin of 505.26%.The firm had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.53 million.

Phunware Price Performance

Shares of NASDAQ PHUN traded up $0.01 during midday trading on Friday, hitting $2.28. 169,060 shares of the company’s stock were exchanged, compared to its average volume of 208,233. The firm’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $2.91. The company has a market cap of $46.03 million, a PE ratio of -4.38 and a beta of 2.39. Phunware has a twelve month low of $2.21 and a twelve month high of $6.42.

Institutional Trading of Phunware

An institutional investor recently raised its position in Phunware stock. Jane Street Group LLC increased its position in Phunware (NASDAQ:PHUN) by 2,255.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,811 shares of the company’s stock after purchasing an additional 12,359 shares during the period. Jane Street Group LLC owned 0.06% of Phunware worth $35,000 at the end of the most recent quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHUN has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Phunware in a research report on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Phunware in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Phunware presently has an average rating of “Hold” and a consensus target price of $6.67.

About Phunware

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.