HC Wainwright Issues Pessimistic Forecast for Phunware (NASDAQ:PHUN) Stock Price

Phunware (NASDAQ:PHUN) had its price target decreased by research analysts at HC Wainwright from $3.00 to $2.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would indicate a potential downside of 2.91% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phunware in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Phunware presently has a consensus rating of “Hold” and a consensus price target of $6.33.

Phunware Stock Down 5.9%

Shares of PHUN opened at $2.06 on Tuesday. Phunware has a twelve month low of $2.00 and a twelve month high of $6.29. The stock has a market capitalization of $41.59 million, a P/E ratio of -3.96 and a beta of 2.39. The company has a 50 day moving average of $2.67 and a 200-day moving average of $2.88.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. The business had revenue of $0.62 million for the quarter, compared to analyst estimates of $0.53 million. On average, sell-side analysts anticipate that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Trading of Phunware

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new stake in shares of Phunware in the first quarter valued at approximately $30,000. Atria Wealth Solutions Inc. acquired a new stake in Phunware during the 1st quarter valued at $30,000. Virtu Financial LLC bought a new position in Phunware during the third quarter worth $28,000. Jane Street Group LLC boosted its position 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 purchasing an additional 12,359 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Phunware in the second quarter valued at $39,000. Institutional investors own 7.57% of the company’s stock.

About Phunware

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.