Wall Street Zen Upgrades Phunware (NASDAQ:PHUN) to “Hold”

Phunware (NASDAQ:PHUN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings upgraded shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.00.

Phunware Trading Up 1.9%

NASDAQ PHUN opened at $2.15 on Friday. The stock’s 50-day moving average price is $2.03 and its two-hundred day moving average price is $1.94. The company has a market cap of $43.97 million, a PE ratio of -3.91 and a beta of 2.59. Phunware has a 1 year low of $1.56 and a 1 year high of $3.36.

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

Institutional Trading of Phunware

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its stake in Phunware by 2,255.3% in the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock valued at $35,000 after purchasing an additional 12,359 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Phunware in the 3rd quarter worth about $138,000. Virtu Financial LLC purchased a new stake in shares of Phunware during the 3rd quarter worth about $28,000. Bank of America Corp DE lifted its holdings in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after buying an additional 30,304 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Phunware during the 3rd quarter valued at about $303,000. 7.57% of the stock is currently owned by hedge funds and other 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.