Phunware (NASDAQ:PHUN) Receives “Neutral” Rating from HC Wainwright

Phunware (NASDAQ:PHUN)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $2.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 6.95% from the company’s previous close.

PHUN has been the topic of a number of other research reports. Wall Street Zen upgraded Phunware from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.25.

Phunware Price Performance

Shares of PHUN opened at $1.87 on Wednesday. The firm has a market capitalization of $37.76 million, a PE ratio of -3.28 and a beta of 2.64. The company’s 50-day moving average is $1.79 and its 200-day moving average is $2.16. Phunware has a fifty-two week low of $1.56 and a fifty-two week high of $3.88.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Friday, March 20th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.61 million. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.11%. Analysts predict that Phunware will post -0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phunware

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its position in shares of Phunware by 177.6% in the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after purchasing an additional 32,812 shares during the period. Cantor Fitzgerald L. P. lifted its position in Phunware by 38.9% during the fourth 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 period. Panagora Asset Management Inc. grew its stake 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 buying an additional 14,134 shares in the last quarter. Jane Street Group LLC increased its holdings in Phunware by 44.9% in the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock valued at $136,000 after buying an additional 22,784 shares during the period. Finally, HRT Financial LP bought a new position in Phunware in the 4th quarter valued at about $25,000. 7.57% of the stock is owned by institutional investors and hedge funds.

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.