Phunware (NASDAQ:PHUN) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Phunware (NASDAQ:PHUN) posted its earnings results on Friday. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.12), Zacks reports. Phunware had a negative net margin of 471.72% and a negative return on equity of 13.52%. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.80 million.

Phunware Price Performance

PHUN opened at $2.13 on Friday. The stock has a market capitalization of $43.55 million, a PE ratio of -3.28 and a beta of 2.61. The firm’s fifty day moving average price is $2.05 and its 200 day moving average price is $1.95. Phunware has a 12-month low of $1.56 and a 12-month high of $3.13.

Wall Street Analyst Weigh In

Several research analysts have commented on PHUN shares. Weiss Ratings raised Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Phunware from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Phunware has a consensus rating of “Reduce” and an average target price of $2.00.

Institutional Investors Weigh In On Phunware

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in Phunware during the third quarter valued at $303,000. Bridgeway Capital Management LLC bought a new position in shares of Phunware in the 3rd quarter worth about $138,000. Cantor Fitzgerald L. P. boosted its holdings in shares of Phunware by 38.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock valued at $231,000 after buying an additional 35,000 shares during the period. XTX Topco Ltd boosted its holdings in shares of Phunware by 177.6% in the 4th quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after buying an additional 32,812 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after buying an additional 30,304 shares during the last quarter. Institutional investors own 7.57% of the company’s stock.

Phunware Company Profile

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.