Phunware (NASDAQ:PHUN) Raised to “Hold” at Wall Street Zen

Phunware (NASDAQ:PHUN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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

Phunware Stock Performance

Shares of PHUN opened at $2.09 on Friday. The firm has a market cap of $42.76 million, a PE ratio of -3.22 and a beta of 2.61. The company’s 50 day simple moving average is $2.09 and its 200-day simple moving average is $1.98. Phunware has a 12-month low of $1.56 and a 12-month high of $3.13.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The business had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.80 million. Phunware had a negative net margin of 471.72% and a negative return on equity of 13.79%.

Institutional Investors Weigh In On Phunware

Several hedge funds have recently modified their holdings of PHUN. HRT Financial LP acquired a new position in Phunware in the 4th quarter valued at $25,000. Virtu Financial LLC acquired a new stake in shares of Phunware in the 3rd quarter worth $28,000. Jane Street Group LLC lifted its stake in shares of Phunware by 2,255.3% in the 1st quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after acquiring an additional 12,359 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Phunware by 98.2% in the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after acquiring an additional 14,134 shares during the period. Finally, R Squared Ltd boosted its holdings in shares of Phunware by 146.6% in the fourth quarter. R Squared Ltd now owns 35,407 shares of the company’s stock valued at $66,000 after acquiring an additional 21,048 shares in the last quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

About Phunware

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.