Phunware (NASDAQ:PHUN) Stock Price Up 5.1% – Should You Buy?

Phunware (NASDAQ:PHUN) traded up 5.1% during trading on Tuesday . The stock traded as high as $2.08 and last traded at $2.05. 121,109 shares were traded during trading, a decline of 1% from the average daily volume of 121,768 shares. The stock had previously closed at $1.95.

Analysts Set New Price Targets

PHUN has been the topic of several recent analyst reports. Wall Street Zen raised Phunware from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research note on Wednesday, June 24th. Finally, HC Wainwright restated a “neutral” rating and issued a $2.00 price target on shares of Phunware in a report on Wednesday, March 25th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $2.00.

Phunware Price Performance

The stock has a market cap of $41.92 million, a price-to-earnings ratio of -3.73 and a beta of 2.59. The company’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $1.91.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.The business had revenue of $0.54 million during the quarter, compared to the consensus estimate of $0.70 million. On average, analysts forecast that Phunware will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Phunware

A number of hedge funds have recently bought and sold shares of PHUN. HRT Financial LP bought a new stake in shares of Phunware in the 4th quarter worth $25,000. Virtu Financial LLC bought a new position in shares of Phunware during the third quarter valued at about $28,000. Jane Street Group LLC lifted its position 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 valued at $35,000 after purchasing an additional 12,359 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Phunware by 98.2% during the fourth quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after purchasing an additional 14,134 shares during the last quarter. Finally, R Squared Ltd boosted its holdings in Phunware by 146.6% during the fourth quarter. R Squared Ltd now owns 35,407 shares of the company’s stock worth $66,000 after purchasing an additional 21,048 shares during the last quarter. 7.57% of the stock is owned by hedge funds and other institutional investors.

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.