Phunware (NASDAQ:PHUN) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Phunware (NASDAQ:PHUN) announced its quarterly earnings data on Friday. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03, Zacks reports. Phunware had a negative return on equity of 10.45% and a negative net margin of 505.26%.The company had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.61 million.

Phunware Stock Performance

Shares of Phunware stock opened at $1.80 on Friday. Phunware has a one year low of $1.56 and a one year high of $3.88. The company has a market cap of $36.34 million, a price-to-earnings ratio of -3.16 and a beta of 2.64. The business’s 50 day moving average price is $1.80 and its 200 day moving average price is $2.18.

Institutional Trading of Phunware

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HRT Financial LP purchased a new position in shares of Phunware during the 4th quarter worth $25,000. Virtu Financial LLC purchased a new stake in shares of Phunware in the third quarter valued at about $28,000. Jane Street Group LLC increased its position 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 purchasing an additional 12,359 shares during the last quarter. Panagora Asset Management Inc. increased its position in Phunware by 98.2% during the fourth 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 last quarter. Finally, Bank of America Corp DE raised its stake in Phunware by 13,900.9% during the third 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PHUN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. Wall Street Zen upgraded shares of Phunware from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.33.

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.