Phunware (NASDAQ:PHUN) Upgraded by Wall Street Zen to “Hold” Rating

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

Separately, Weiss Ratings raised Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a 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 company. According to data from MarketBeat.com, Phunware has a consensus rating of “Reduce” and a consensus target price of $2.00.

Phunware Trading Down 0.9%

Phunware stock opened at $2.09 on Friday. The company has a market capitalization of $42.76 million, a price-to-earnings ratio of -3.22 and a beta of 2.61. Phunware has a 12 month low of $1.56 and a 12 month high of $3.13. The stock’s 50 day moving average is $2.09 and its 200-day moving average is $1.98.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The firm had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.80 million. Phunware had a negative return on equity of 13.79% and a negative net margin of 471.72%.

Institutional Investors Weigh In On Phunware

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHUN. HRT Financial LP acquired a new stake in shares of Phunware in the 4th quarter valued at $25,000. Virtu Financial LLC bought a new stake in shares of Phunware during the 3rd quarter worth $28,000. Jane Street Group LLC lifted its position in shares of 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 buying an additional 12,359 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Phunware by 98.2% in the fourth quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock valued at $53,000 after buying an additional 14,134 shares in the last quarter. Finally, R Squared Ltd boosted its stake in Phunware by 146.6% in the fourth quarter. R Squared Ltd now owns 35,407 shares of the company’s stock valued at $66,000 after buying 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.