Wall Street Zen Upgrades Phunware (NASDAQ:PHUN) to Hold

Phunware (NASDAQ:PHUN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings upgraded shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. 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.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.00.

Phunware Stock Performance

Shares of NASDAQ PHUN opened at $2.15 on Friday. The business has a 50 day simple moving average of $2.03 and a 200 day simple moving average of $1.94. Phunware has a 52 week low of $1.56 and a 52 week high of $3.36. The stock has a market cap of $43.97 million, a price-to-earnings ratio of -3.91 and a beta of 2.59.

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

Institutional Trading of Phunware

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cantor Fitzgerald L. P. increased its holdings in shares of Phunware by 38.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock worth $231,000 after purchasing an additional 35,000 shares during the period. Citadel Advisors LLC bought a new stake in shares of Phunware in the third quarter valued at about $303,000. Jane Street Group LLC grew its position in Phunware by 44.9% during the fourth quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after buying an additional 22,784 shares in the last quarter. XTX Topco Ltd grew its position in Phunware by 177.6% during the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after buying an additional 32,812 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in Phunware during the third quarter valued at about $138,000. 7.57% of the stock is currently 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.