Phunware (NASDAQ:PHUN) Stock Falls 2.5% – Should You Sell?

Phunware (NASDAQ:PHUN)’s share price traded down 2.5% on Monday. The company traded as low as $1.99 and last traded at $1.99. 53,927 shares were traded during trading, a decline of 28% from the average daily volume of 74,827 shares. The stock had previously closed at $2.04.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PHUN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Phunware in a report on Friday, October 2nd. Wall Street Zen downgraded Phunware from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Phunware currently has a consensus rating of “Reduce” and an average price target of $2.00.

Phunware Trading Down 2.5%

The firm has a market capitalization of $40.72 million, a P/E ratio of -3.06 and a beta of 2.59. The stock has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.05.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The business had revenue of $0.80 million during the quarter, compared to the consensus estimate of $0.80 million. Phunware had a negative return on equity of 13.79% and a negative net margin of 471.72%.

About Phunware

Phunware, Inc is a software company that provides mobile application and location-based technology for organizations seeking to engage customers, employees, patients, and visitors through smartphones and other connected devices. Its platform is designed to support the development, management, and operation of branded mobile applications.

The company’s offerings include mobile application infrastructure, content management, analytics, engagement tools, and location-based services. These capabilities can support functions such as indoor mapping and navigation, messaging, loyalty programs, notifications, wayfinding, and digital experiences tailored to specific venues or audiences.

Phunware has marketed its technology to customers in sectors including healthcare, hospitality, sports and entertainment, retail, and other enterprise industries.