Phunware (NASDAQ:PHUN) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Phunware in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.33.

Phunware Price Performance

Shares of PHUN opened at $1.80 on Friday. Phunware has a one year low of $1.56 and a one year high of $3.88. The firm has a market capitalization of $36.34 million, a PE ratio of -3.46 and a beta of 2.64. The company has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $2.18.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Friday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Phunware had a negative return on equity of 10.45% and a negative net margin of 505.26%.The business had revenue of $0.79 million during the quarter, compared to analysts’ expectations of $0.61 million. Analysts expect that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. HRT Financial LP purchased a new position in Phunware in the 4th quarter valued at about $25,000. Virtu Financial LLC purchased a new position in shares of Phunware during the third quarter worth $28,000. Jane Street Group LLC boosted its holdings 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 during the period. Panagora Asset Management Inc. lifted its position in shares of 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 purchasing an additional 14,134 shares in the last quarter. Finally, R Squared Ltd lifted 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 worth $66,000 after purchasing an additional 21,048 shares in the last quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

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.