Phunware (NASDAQ:PHUN) Announces Earnings Results, Beats Expectations By $0.04 EPS

Phunware (NASDAQ:PHUN) issued its quarterly earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04, FiscalAI reports. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. The company had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.61 million.

Phunware Stock Down 1.1%

Shares of PHUN stock traded down $0.02 on Friday, hitting $1.78. The company had a trading volume of 21,468 shares, compared to its average volume of 150,048. Phunware has a twelve month low of $1.56 and a twelve month high of $3.88. The firm has a market cap of $35.94 million, a P/E ratio of -3.42 and a beta of 2.64. The company has a 50-day moving average price of $1.80 and a 200-day moving average price of $2.18.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. One 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. According to MarketBeat.com, Phunware presently has a consensus rating of “Hold” and a consensus target price of $6.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PHUN. HRT Financial LP acquired a new position in Phunware in the fourth quarter valued at approximately $25,000. Virtu Financial LLC acquired a new stake in shares of Phunware during the 3rd quarter worth approximately $28,000. Jane Street Group LLC grew its stake in shares of Phunware by 2,255.3% during the 1st 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. Panagora Asset Management Inc. increased its holdings in shares of Phunware by 98.2% during the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock valued at $53,000 after purchasing an additional 14,134 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after purchasing an additional 30,304 shares in the last quarter. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

About Phunware

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.