HC Wainwright Reaffirms Neutral Rating for Phunware (NASDAQ:PHUN)

Phunware (NASDAQ:PHUN)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $2.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 14.94% from the stock’s previous close.

PHUN has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. Wall Street Zen raised shares of Phunware from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.25.

Phunware Stock Performance

NASDAQ:PHUN opened at $1.74 on Wednesday. Phunware has a one year low of $1.56 and a one year high of $3.88. The stock has a market cap of $35.13 million, a PE ratio of -3.05 and a beta of 2.64. The stock has a 50 day moving average price of $1.79 and a 200 day moving average price of $2.16.

Phunware (NASDAQ:PHUN) last released its quarterly earnings data on Friday, March 20th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.61 million. Phunware had a negative return on equity of 10.11% and a negative net margin of 446.57%. As a group, analysts predict that Phunware will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phunware

Hedge funds have recently modified their holdings of the business. HRT Financial LP acquired a new stake in shares of Phunware during the 4th quarter worth about $25,000. Virtu Financial LLC acquired a new position in Phunware in the third quarter valued at about $28,000. Jane Street Group LLC boosted its stake in Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after buying an additional 12,359 shares during the period. Panagora Asset Management Inc. boosted its stake 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 buying an additional 14,134 shares during the period. Finally, R Squared Ltd increased its position in shares of Phunware by 146.6% during 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 during the last quarter. 7.57% of the stock is currently 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.