Phunware (NASDAQ:PHUN) Downgraded to “Sell” Rating by Wall Street Zen

Phunware (NASDAQ:PHUN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other equities analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. HC Wainwright restated a “neutral” rating and issued a $2.00 price target on shares of Phunware in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.25.

Phunware Trading Down 4.0%

Shares of NASDAQ:PHUN opened at $1.67 on Friday. Phunware has a 12-month low of $1.56 and a 12-month high of $3.88. The business’s fifty day simple moving average is $1.79 and its 200-day simple moving average is $2.15. The company has a market capitalization of $33.72 million, a PE ratio of -2.93 and a beta of 2.64.

Phunware (NASDAQ:PHUN) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The firm had revenue of $0.79 million during the quarter, compared to analyst estimates of $0.61 million. Phunware had a negative return on equity of 10.11% and a negative net margin of 446.57%. Research analysts predict that Phunware will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHUN. HRT Financial LP acquired a new position in Phunware during the 4th quarter valued at about $25,000. Virtu Financial LLC acquired a new stake in Phunware in the third quarter worth about $28,000. Jane Street Group LLC boosted its holdings in Phunware by 2,255.3% in the first 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 in the last quarter. Panagora Asset Management Inc. grew its stake in shares of 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 acquiring an additional 14,134 shares during the last quarter. Finally, R Squared Ltd grew its stake in shares of Phunware by 146.6% during the fourth quarter. R Squared Ltd now owns 35,407 shares of the company’s stock worth $66,000 after acquiring an additional 21,048 shares during the last quarter. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

Phunware Company Profile

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.