Phunware’s (PHUN) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Phunware (NASDAQ:PHUN) in a report published on Thursday,Benzinga reports. They currently have a $3.00 price objective on the stock.

Separately, Ascendiant Capital Markets boosted their price target on Phunware from $12.00 to $12.50 and gave the company a “buy” rating in a report on Friday, June 6th.

Phunware Stock Performance

NASDAQ:PHUN opened at $2.67 on Thursday. The stock has a 50-day simple moving average of $3.10 and a two-hundred day simple moving average of $3.09. Phunware has a 52-week low of $2.22 and a 52-week high of $14.60. The firm has a market capitalization of $53.90 million, a PE ratio of -4.11 and a beta of 2.30.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Phunware had a negative net margin of 510.83% and a negative return on equity of 12.99%. The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.74 million. Equities analysts forecast that Phunware will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phunware

A number of hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Phunware in the second quarter worth about $39,000. Jane Street Group LLC boosted its stake in shares of Phunware by 2,255.3% in the first 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. Charles Schwab Investment Management Inc. bought a new position in shares of Phunware in the first quarter worth about $30,000. Atria Wealth Solutions Inc. bought a new position in shares of Phunware in the first quarter worth about $30,000. Finally, Soviero Asset Management LP bought a new position in shares of Phunware in the fourth quarter worth about $520,000. Institutional investors own 7.57% of the company’s stock.

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.