HC Wainwright Cuts Phunware (NASDAQ:PHUN) Price Target to $3.00

Phunware (NASDAQ:PHUN) had its target price decreased by HC Wainwright from $6.00 to $3.00 in a research report report published on Monday morning, Marketbeat.com reports. HC Wainwright currently has a neutral rating on the stock. HC Wainwright also issued estimates for Phunware’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.39) EPS.

Phunware Stock Performance

NASDAQ PHUN opened at $3.14 on Monday. The stock has a market capitalization of $63.34 million, a price-to-earnings ratio of -3.27 and a beta of 2.45. The stock has a 50-day moving average of $3.61 and a 200 day moving average of $4.59. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. Phunware has a twelve month low of $2.70 and a twelve month high of $14.60.

Phunware (NASDAQ:PHUN) last announced its earnings results on Thursday, March 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.12. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.93 million. Sell-side analysts anticipate that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Trading of Phunware

A number of institutional investors and hedge funds have recently modified their holdings of PHUN. Geode Capital Management LLC lifted its stake in Phunware by 87.9% in the 4th quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock valued at $1,112,000 after buying an additional 100,010 shares in the last quarter. Soviero Asset Management LP purchased a new position in shares of Phunware in the fourth quarter valued at approximately $520,000. Two Sigma Investments LP acquired a new stake in shares of Phunware in the fourth quarter worth approximately $392,000. Northern Trust Corp increased its position in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after purchasing an additional 33,922 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Phunware in the 4th quarter valued at $122,000. Hedge funds and other 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.