Phunware (NASDAQ:PHUN) Stock Price Up 5.1% – Here’s What Happened

Phunware (NASDAQ:PHUN)’s share price traded up 5.1% on Tuesday . The company traded as high as $2.08 and last traded at $2.05. 121,109 shares were traded during trading, a decline of 1% from the average session volume of 121,768 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

Several research analysts have commented on PHUN shares. HC Wainwright restated a “neutral” rating and set a $2.00 price objective on shares of Phunware in a research report on Wednesday, March 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Phunware from a “sell” rating to a “hold” rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.00.

Phunware Stock Performance

The business’s fifty day moving average is $2.03 and its 200-day moving average is $1.91. The firm has a market cap of $41.92 million, a P/E ratio of -3.73 and a beta of 2.59.

Phunware (NASDAQ:PHUN) last posted its earnings results on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%. The business had revenue of $0.54 million for the quarter, compared to the consensus estimate of $0.70 million. Analysts predict that Phunware will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Phunware

A number of hedge funds have recently made changes to their positions in PHUN. Virtu Financial LLC bought a new position in Phunware during the 3rd quarter worth approximately $28,000. Jane Street Group LLC grew its holdings 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 period. HRT Financial LP acquired a new stake in Phunware during the 4th quarter worth about $25,000. Panagora Asset Management Inc. raised its position in shares of 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 acquiring an additional 14,134 shares in the last quarter. Finally, R Squared Ltd raised its position in shares of Phunware by 146.6% in the 4th quarter. R Squared Ltd now owns 35,407 shares of the company’s stock worth $66,000 after acquiring an additional 21,048 shares in the last quarter. 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.