Phunware (NASDAQ:PHUN) Rating Lowered to “Sell” at Wall Street Zen
by Sarita Garza · The Markets DailyPhunware (NASDAQ:PHUN – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.
Several other research firms also recently issued reports on PHUN. HC Wainwright restated a “neutral” rating and issued a $2.00 price objective on shares of Phunware in a research note on Wednesday, March 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.25.
Get Our Latest Research Report on Phunware
Phunware Trading Up 1.2%
Shares of NASDAQ:PHUN opened at $1.69 on Friday. The firm has a 50 day simple moving average of $1.78 and a 200-day simple moving average of $2.14. Phunware has a twelve month low of $1.56 and a twelve month high of $3.88. The company has a market capitalization of $34.12 million, a PE ratio of -2.96 and a beta of 2.64.
Phunware (NASDAQ:PHUN – Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.11%. The firm had revenue of $0.79 million for the quarter, compared to the consensus estimate of $0.61 million. As a group, equities research analysts predict that Phunware will post -0.97 EPS for the current fiscal year.
Institutional Investors Weigh In On Phunware
Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its holdings in shares of 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 during the last quarter. Bridgeway Capital Management LLC acquired a new position in Phunware in the 3rd quarter valued at about $138,000. Virtu Financial LLC purchased a new stake in Phunware during the 3rd quarter valued at approximately $28,000. Cantor Fitzgerald L. P. purchased a new stake in Phunware during the 3rd quarter valued at approximately $248,000. Finally, Bank of America Corp DE lifted its position in Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after acquiring an additional 30,304 shares during the period. Institutional investors and hedge funds own 7.57% of the company’s stock.
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.