Phunware (NASDAQ:PHUN) Releases Earnings Results

Phunware (NASDAQ:PHUN) issued its quarterly earnings data on Thursday. The company reported ($0.26) EPS for the quarter, Zacks reports. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.

Phunware Stock Down 2.7%

Shares of NASDAQ PHUN traded down $0.06 during trading hours on Thursday, reaching $2.18. 73,120 shares of the stock traded hands, compared to its average volume of 143,171. The company’s 50-day simple moving average is $2.05 and its two-hundred day simple moving average is $1.95. The company has a market capitalization of $44.57 million, a P/E ratio of -3.96 and a beta of 2.61. Phunware has a 52-week low of $1.56 and a 52-week high of $3.13.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Phunware from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $2.00.

Institutional Investors Weigh In On Phunware

A number of hedge funds have recently made changes to their positions in PHUN. Virtu Financial LLC bought a new stake in shares of Phunware in the 3rd quarter valued at about $28,000. Jane Street Group LLC grew its position in 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 acquiring an additional 12,359 shares during the last quarter. HRT Financial LP bought a new position in Phunware during the 4th quarter worth approximately $25,000. Panagora Asset Management Inc. increased its stake in Phunware by 98.2% in the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after purchasing an additional 14,134 shares during the period. Finally, Bank of America Corp DE increased its stake in Phunware by 13,900.9% in the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after purchasing an additional 30,304 shares during the period. 7.57% of the stock is currently owned by 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.