100,000 Shares in Phunware, Inc. (NASDAQ:PHUN) Acquired by Soviero Asset Management LP

Soviero Asset Management LP acquired a new position in Phunware, Inc. (NASDAQ:PHUN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $520,000. Soviero Asset Management LP owned 0.50% of Phunware as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in shares of Phunware during the fourth quarter worth $57,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Phunware during the fourth quarter worth $85,000. Dimensional Fund Advisors LP purchased a new position in shares of Phunware during the fourth quarter worth $89,000. Marshall Wace LLP purchased a new position in shares of Phunware during the fourth quarter worth $122,000. Finally, Northern Trust Corp boosted its position in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after buying an additional 33,922 shares during the period. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

Phunware Price Performance

PHUN stock opened at $3.13 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80. The firm has a market capitalization of $63.14 million, a P/E ratio of -3.86 and a beta of 2.58. The business’s 50-day moving average is $2.85 and its two-hundred day moving average is $3.93. Phunware, Inc. has a 1 year low of $2.22 and a 1 year high of $14.60.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.60 million. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. Analysts anticipate that Phunware, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PHUN shares. Ascendiant Capital Markets lowered their price target on Phunware from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, April 21st. HC Wainwright lowered their price target on Phunware from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Roth Capital set a $4.50 price target on Phunware in a research report on Monday, March 24th.

About Phunware

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.