Phunware (NASDAQ:PHUN) Shares Up 5.1% – Still a Buy?

Phunware (NASDAQ:PHUN)’s stock price rose 5.1% during mid-day trading on Tuesday . The company traded as high as $2.08 and last traded at $2.05. 121,109 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 121,768 shares. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. HC Wainwright reiterated a “neutral” rating and set a $2.00 price target on shares of Phunware in a report on Wednesday, March 25th. Wall Street Zen upgraded shares of Phunware from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $2.00.

Phunware Stock Down 3.3%

The stock has a market capitalization of $41.72 million, a price-to-earnings ratio of -3.71 and a beta of 2.59. The company has a 50 day moving average of $2.03 and a 200 day moving average of $1.91.

Phunware (NASDAQ:PHUN) last released its earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $0.54 million for the quarter, compared to the consensus estimate of $0.70 million. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.

Institutional Investors Weigh In On Phunware

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in Phunware by 2,255.3% in the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock valued at $35,000 after purchasing an additional 12,359 shares during the period. Bridgeway Capital Management LLC purchased a new position in Phunware during the third quarter worth approximately $138,000. Virtu Financial LLC acquired a new position in shares of Phunware in the 3rd quarter valued at $28,000. Cantor Fitzgerald L. P. acquired a new position in shares of Phunware in the 3rd quarter valued at $248,000. Finally, Bank of America Corp DE grew its stake 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 buying an additional 30,304 shares during the period. 7.57% of the stock is owned by institutional investors and hedge funds.

Phunware Company Profile

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.