Phunware (NASDAQ:PHUN) Stock Price Up 0.5% – What’s Next?

Shares of Phunware (NASDAQ:PHUN) were up 0.5% during mid-day trading on Monday . The company traded as high as $2.02 and last traded at $2.00. Approximately 113,413 shares were traded during trading, a decline of 38% from the average daily volume of 181,519 shares. The stock had previously closed at $1.99.

Analyst Upgrades and Downgrades

PHUN has been the topic of several analyst reports. HC Wainwright cut their target price on Phunware from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Phunware has an average rating of “Hold” and an average price target of $6.33.

Phunware Trading Up 0.5%

The stock has a market capitalization of $40.38 million, a P/E ratio of -3.85 and a beta of 2.49. The stock has a 50 day moving average of $2.04 and a 200-day moving average of $2.57.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. Phunware had a negative return on equity of 10.45% and a negative net margin of 505.26%.The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.53 million. Research analysts anticipate that Phunware will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Phunware

A number of hedge funds have recently added to or reduced their stakes in PHUN. Cantor Fitzgerald L. P. purchased a new position in shares of Phunware during the third quarter worth approximately $248,000. Citadel Advisors LLC purchased a new position in Phunware during the 3rd quarter worth $303,000. Bank of America Corp DE increased its holdings 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 purchasing an additional 30,304 shares during the period. Virtu Financial LLC bought a new stake in Phunware during the 3rd quarter valued at $28,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Phunware in the 3rd quarter worth $138,000. 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.