R Squared Ltd Makes New Investment in Phunware $PHUN

R Squared Ltd purchased a new position in Phunware (NASDAQ:PHUN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,188 shares of the company’s stock, valued at approximately $39,000. R Squared Ltd owned approximately 0.06% of Phunware as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new stake in shares of Phunware during the first quarter worth about $30,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Phunware during the first quarter worth about $30,000. Finally, Jane Street Group LLC lifted its holdings in shares of Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after purchasing an additional 12,359 shares during the period. Institutional investors and hedge funds own 7.57% of the company’s stock.

Phunware Stock Performance

Shares of PHUN opened at $2.76 on Monday. Phunware has a one year low of $2.22 and a one year high of $12.20. The stock has a market capitalization of $55.72 million, a price-to-earnings ratio of -4.25 and a beta of 2.47. The stock has a 50 day moving average price of $2.74 and a 200 day moving average price of $2.92.

Phunware (NASDAQ:PHUN) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.74 million. Phunware had a negative return on equity of 12.99% and a negative net margin of 510.83%. On average, analysts predict that Phunware will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PHUN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a report on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating and set a $3.00 price target on shares of Phunware in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.67.

Phunware Profile

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.