Two Sigma Investments LP Invests $392,000 in Phunware, Inc. (NASDAQ:PHUN)

Two Sigma Investments LP purchased a new position in shares of Phunware, Inc. (NASDAQ:PHUN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 75,478 shares of the company’s stock, valued at approximately $392,000. Two Sigma Investments LP owned 0.37% of Phunware as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Millennium Management LLC acquired a new position in Phunware in the fourth quarter valued at $57,000. Schonfeld Strategic Advisors LLC acquired a new position in Phunware in the fourth quarter valued at $85,000. Dimensional Fund Advisors LP acquired a new position in Phunware in the fourth quarter valued at $89,000. Marshall Wace LLP acquired a new position in Phunware in the fourth quarter valued at $122,000. Finally, Northern Trust Corp lifted its holdings in Phunware by 285.4% in the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock valued at $238,000 after buying an additional 33,922 shares during the period. Institutional investors and hedge funds own 7.57% of the company’s stock.

Phunware Trading Up 14.2%

PHUN opened at $3.71 on Wednesday. Phunware, Inc. has a 1-year low of $2.22 and a 1-year high of $14.60. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. The company has a market cap of $74.83 million, a P/E ratio of -4.58 and a beta of 2.35. The company has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $3.65.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.60 million. Analysts predict that Phunware, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PHUN. Ascendiant Capital Markets boosted their target price on shares of Phunware from $12.00 to $12.50 and gave the company a “buy” rating in a report on Friday, June 6th. HC Wainwright decreased their price target on shares of Phunware from $6.00 to $3.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Roth Capital set a $4.50 price target on shares of Phunware in a research note on Monday, March 24th.

About Phunware

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.