Phunware (NASDAQ:PHUN) Price Target Lowered to $2.00 at HC Wainwright

Phunware (NASDAQ:PHUN) had its price objective lowered by HC Wainwright from $3.00 to $2.00 in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Phunware in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.33.

Phunware Trading Down 1.5%

Shares of PHUN opened at $2.03 on Tuesday. The firm has a market capitalization of $40.99 million, a P/E ratio of -3.90 and a beta of 2.39. Phunware has a 12-month low of $2.00 and a 12-month high of $6.29. The firm has a fifty day moving average price of $2.66 and a 200-day moving average price of $2.87.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.53 million. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. Analysts predict that Phunware will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Phunware

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Phunware during the third quarter valued at approximately $28,000. Charles Schwab Investment Management Inc. purchased a new stake in Phunware during the first quarter worth $30,000. Atria Wealth Solutions Inc. bought a new stake in Phunware during the 1st quarter valued at $30,000. Jane Street Group LLC increased its holdings 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 valued at $35,000 after acquiring an additional 12,359 shares during the period. Finally, R Squared Ltd bought a new position in shares of Phunware in the 2nd quarter worth $39,000. Hedge funds and other 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.