Phunware (NASDAQ:PHUN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Phunware (NASDAQ:PHUN – Free Report) from a sell rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings upgraded 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $2.00.

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Check Out Our Latest Analysis on PHUN

Phunware Trading Down 1.9%

PHUN stock opened at $2.11 on Friday. The firm has a market cap of $43.15 million, a PE ratio of -3.84 and a beta of 2.59. Phunware has a 1 year low of $1.56 and a 1 year high of $3.36. The company has a fifty day simple moving average of $2.03 and a 200 day simple moving average of $1.94.

Phunware (NASDAQ:PHUN – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%. The firm had revenue of $0.54 million for the quarter, compared to the consensus estimate of $0.70 million.

Institutional Trading of Phunware

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHUN. Citadel Advisors LLC acquired a new position in shares of Phunware during the third quarter worth approximately $303,000. Bridgeway Capital Management LLC bought a new stake in shares of Phunware in the third quarter valued at approximately $138,000. Cantor Fitzgerald L. P. grew its stake in shares of Phunware by 38.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock worth $231,000 after acquiring an additional 35,000 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Phunware by 177.6% in 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 last quarter. Finally, Bank of America Corp DE increased its position in Phunware by 13,900.9% during the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after acquiring an additional 30,304 shares during the period. 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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