Phunware (NASDAQ:PHUN) Upgraded at Wall Street Zen

Phunware (NASDAQ:PHUN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

PHUN has been the topic of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a report on Friday, March 27th. HC Wainwright restated a “neutral” rating and set a $2.00 price objective on shares of Phunware in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.25.

Phunware Stock Performance

Shares of NASDAQ PHUN opened at $2.20 on Friday. The business’s 50 day moving average price is $1.82 and its 200-day moving average price is $2.06. Phunware has a fifty-two week low of $1.56 and a fifty-two week high of $3.88. The company has a market cap of $44.42 million, a price-to-earnings ratio of -3.86 and a beta of 2.63.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.61 million. Phunware had a negative return on equity of 10.23% and a negative net margin of 446.57%. Sell-side analysts predict that Phunware will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Phunware during the 3rd quarter valued at $28,000. Jane Street Group LLC boosted its position in Phunware by 2,255.3% during 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 in the last quarter. HRT Financial LP bought a new stake in Phunware during the 4th quarter valued at $25,000. Panagora Asset Management Inc. boosted its position in Phunware by 98.2% during the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock valued at $53,000 after acquiring an additional 14,134 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after acquiring an additional 30,304 shares in the last quarter. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

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.