Wall Street Zen Downgrades Phunware (NASDAQ:PHUN) to Sell

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

A number of other equities analysts have also commented on PHUN. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 target price on shares of Phunware in a research report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phunware in a report 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 company. According to MarketBeat, Phunware currently has an average rating of “Hold” and an average price target of $7.25.

Phunware Trading Down 4.0%

NASDAQ PHUN opened at $1.67 on Friday. The stock has a market cap of $33.72 million, a PE ratio of -2.93 and a beta of 2.64. Phunware has a 12 month low of $1.56 and a 12 month high of $3.88. The company’s 50-day moving average price is $1.79 and its 200-day moving average price is $2.15.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $0.79 million during the quarter, compared to analyst estimates of $0.61 million. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.11%. As a group, sell-side analysts forecast that Phunware will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHUN. Cantor Fitzgerald L. P. increased its position in Phunware by 38.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock valued at $231,000 after purchasing an additional 35,000 shares during the period. Citadel Advisors LLC bought a new stake in shares of Phunware in the 3rd quarter valued at about $303,000. Jane Street Group LLC lifted its position in shares of Phunware by 44.9% in the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after purchasing an additional 22,784 shares during the period. XTX Topco Ltd lifted its position in shares of Phunware by 177.6% in the 4th quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after purchasing an additional 32,812 shares during the period. Finally, Bridgeway Capital Management LLC bought a new position in shares of Phunware during the third quarter valued at approximately $138,000. 7.57% of the stock is currently owned by 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.