Phunware (NASDAQ:PHUN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Phunware (NASDAQ:PHUN) released its quarterly earnings results on Thursday. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02, Zacks reports. The business had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.53 million. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.32%.

Phunware Trading Up 0.4%

NASDAQ:PHUN traded up $0.01 during midday trading on Friday, hitting $2.28. 169,060 shares of the stock were exchanged, compared to its average volume of 208,233. The company has a market capitalization of $46.03 million, a price-to-earnings ratio of -4.38 and a beta of 2.39. Phunware has a one year low of $2.21 and a one year high of $6.42. The business has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $2.91.

Analysts Set New Price Targets

Several research analysts have commented on the stock. HC Wainwright restated a “neutral” rating and issued a $3.00 target price on shares of Phunware in a research report on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phunware in a report on Friday, October 31st. One equities research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.67.

Institutional Trading of Phunware

A hedge fund recently raised its stake in Phunware stock. Jane Street Group LLC boosted its holdings in shares of Phunware (NASDAQ:PHUN) by 2,255.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,811 shares of the company’s stock after purchasing an additional 12,359 shares during the period. Jane Street Group LLC owned approximately 0.06% of Phunware worth $35,000 at the end of the most recent quarter. 7.57% of the stock is currently owned by institutional investors.

Phunware Company Profile

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.