Phunware (NASDAQ:PHUN) Earns Neutral Rating from HC Wainwright

Phunware (NASDAQ:PHUN)‘s stock had its “neutral” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $3.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 7.53% from the stock’s previous close.

Separately, Ascendiant Capital Markets increased their price target on Phunware from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, June 6th.

Phunware Price Performance

Phunware stock opened at $2.79 on Thursday. The stock has a market capitalization of $56.33 million, a PE ratio of -4.29 and a beta of 2.30. Phunware has a 12 month low of $2.22 and a 12 month high of $14.60. The business has a 50 day simple moving average of $3.11 and a 200-day simple moving average of $3.11.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Phunware had a negative return on equity of 12.99% and a negative net margin of 510.83%. The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.74 million. On average, equities research analysts anticipate that Phunware will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Phunware

Several hedge funds and other institutional investors have recently bought and sold shares of PHUN. Two Sigma Investments LP acquired a new position in shares of Phunware in the fourth quarter worth $392,000. Millennium Management LLC purchased a new stake in Phunware during the fourth quarter valued at about $57,000. Dimensional Fund Advisors LP purchased a new stake in shares of Phunware in the fourth quarter worth about $89,000. Marshall Wace LLP purchased a new stake in shares of Phunware in the fourth quarter worth about $122,000. Finally, Geode Capital Management LLC boosted its position in shares of Phunware by 87.9% in the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after buying an additional 100,010 shares during the period. 7.57% of the stock is owned by institutional investors and hedge funds.

Phunware Company Profile

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.