Phunware (NASDAQ:PHUN) Lowered to “Sell” Rating by Wall Street Zen

Phunware (NASDAQ:PHUN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

PHUN has been the subject of several other research reports. Weiss Ratings raised Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. HC Wainwright reissued a “neutral” rating and issued a $2.00 price target on shares of Phunware in a research note on Wednesday, March 25th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Phunware has an average rating of “Reduce” and a consensus price target of $2.00.

Phunware Stock Up 1.4%

PHUN traded up $0.03 during trading on Friday, reaching $2.11. 92,776 shares of the stock traded hands, compared to its average volume of 88,537. The stock’s 50-day moving average is $2.01 and its 200 day moving average is $1.92. Phunware has a 12 month low of $1.56 and a 12 month high of $3.70. The stock has a market capitalization of $43.15 million, a PE ratio of -3.84 and a beta of 2.59.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $0.70 million. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.

Hedge Funds Weigh In On Phunware

Several large investors have recently added to or reduced their stakes in PHUN. HRT Financial LP bought a new stake in Phunware during the 4th quarter worth approximately $25,000. Virtu Financial LLC bought a new stake in Phunware during the third quarter worth $28,000. Jane Street Group LLC grew its holdings in Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after buying an additional 12,359 shares in the last quarter. Panagora Asset Management Inc. raised its position in Phunware by 98.2% in the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock valued at $53,000 after buying an additional 14,134 shares during the last quarter. Finally, R Squared Ltd raised its position in Phunware by 146.6% in the 4th quarter. R Squared Ltd now owns 35,407 shares of the company’s stock valued at $66,000 after buying an additional 21,048 shares during the last quarter. Institutional investors own 7.57% of the company’s stock.

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.