Wall Street Zen Downgrades Phunware (NASDAQ:PHUN) to Sell

Phunware (NASDAQ:PHUN – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings raised Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $2.00.

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Phunware Price Performance

Shares of NASDAQ PHUN opened at $2.13 on Friday. The company’s fifty day moving average is $2.05 and its 200-day moving average is $1.95. The stock has a market cap of $43.56 million, a price-to-earnings ratio of -3.28 and a beta of 2.61. Phunware has a twelve month low of $1.56 and a twelve month high of $3.13.

Phunware (NASDAQ:PHUN – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The firm had revenue of $0.80 million during the quarter, compared to analyst estimates of $0.80 million. Phunware had a negative net margin of 471.72% and a negative return on equity of 13.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd raised its holdings in shares of Phunware by 177.6% during the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after acquiring an additional 32,812 shares during the period. Cantor Fitzgerald L. P. boosted its stake in Phunware by 38.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock worth $231,000 after purchasing an additional 35,000 shares during the period. Jane Street Group LLC increased its holdings in Phunware by 44.9% during the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after purchasing an additional 22,784 shares in the last quarter. Citadel Advisors LLC bought a new position in Phunware during the 3rd quarter worth about $303,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Phunware in the 3rd quarter valued at about $138,000. Institutional investors and hedge funds own 7.57% of the company’s stock.

Phunware Company Profile

(Get Free Report)

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.

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