Phunware (NASDAQ:PHUN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Phunware (NASDAQ:PHUN) from a sell rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings upgraded Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. 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, Phunware has an average rating of “Reduce” and an average target price of $2.00.

Phunware Trading Up 1.9%

Shares of Phunware stock opened at $2.15 on Friday. The company has a market capitalization of $43.97 million, a PE ratio of -3.91 and a beta of 2.59. Phunware has a 12 month low of $1.56 and a 12 month high of $3.36. The stock’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $1.94.

Phunware (NASDAQ:PHUN) last posted its earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. Phunware had a negative return on equity of 11.19% and a negative net margin of 451.68%.The firm had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.70 million.

Institutional Trading of Phunware

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd raised its holdings in Phunware by 177.6% during the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after acquiring an additional 32,812 shares in the last quarter. Cantor Fitzgerald L. P. increased its position in shares of Phunware by 38.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock worth $231,000 after purchasing an additional 35,000 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Phunware by 98.2% during 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 last quarter. Jane Street Group LLC increased its position in shares of Phunware by 44.9% during the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after purchasing an additional 22,784 shares during the last quarter. Finally, HRT Financial LP bought a new stake in shares of Phunware during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 7.57% of the company’s stock.

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.