Phunware (NASDAQ:PHUN) Upgraded by Wall Street Zen to “Hold” Rating

Phunware (NASDAQ:PHUN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings upgraded Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Phunware has an average rating of “Reduce” and a consensus target price of $2.00.

Phunware Price Performance

NASDAQ PHUN opened at $2.15 on Friday. Phunware has a 12 month low of $1.56 and a 12 month high of $3.36. The firm has a market capitalization of $43.97 million, a PE ratio of -3.91 and a beta of 2.59. The company’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $1.94.

Phunware (NASDAQ:PHUN) last released its earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $0.54 million during the quarter, compared to the consensus estimate of $0.70 million. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.

Institutional Trading of Phunware

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Phunware during the third quarter worth approximately $28,000. Jane Street Group LLC increased its holdings 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 valued at $35,000 after buying an additional 12,359 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Phunware during the 4th quarter valued at $25,000. Panagora Asset Management Inc. lifted its position in shares of 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 during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after acquiring an additional 30,304 shares in the last quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

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.