Phunware (NASDAQ:PHUN) Stock Price Down 2.5% – Should You Sell?

Shares of Phunware (NASDAQ:PHUN) traded down 2.5% during mid-day trading on Monday. The company traded as low as $1.99 and last traded at $1.99. Approximately 53,927 shares traded hands during trading, a decline of 28% from the average daily volume of 74,827 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Phunware in a report on Friday, October 2nd. Wall Street Zen downgraded Phunware from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $2.00.

Phunware Trading Down 1.2%

The firm’s 50 day moving average price is $2.05 and its 200-day moving average price is $2.05. The company has a market cap of $41.05 million, a P/E ratio of -3.09 and a beta of 2.59.

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

About Phunware

Phunware, Inc is a software company that provides mobile application and location-based technology for organizations seeking to engage customers, employees, patients, and visitors through smartphones and other connected devices. Its platform is designed to support the development, management, and operation of branded mobile applications.

The company’s offerings include mobile application infrastructure, content management, analytics, engagement tools, and location-based services. These capabilities can support functions such as indoor mapping and navigation, messaging, loyalty programs, notifications, wayfinding, and digital experiences tailored to specific venues or audiences.

Phunware has marketed its technology to customers in sectors including healthcare, hospitality, sports and entertainment, retail, and other enterprise industries.