Phunware (NASDAQ:PHUN) Releases Earnings Results, Misses Estimates By $0.12 EPS

Phunware (NASDAQ:PHUN) released its quarterly earnings results on Thursday. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12), Zacks reports. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%. The business had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.80 million.

Phunware Price Performance

NASDAQ:PHUN opened at $2.18 on Friday. The firm’s fifty day moving average price is $2.05 and its 200 day moving average price is $1.95. Phunware has a 1-year low of $1.56 and a 1-year high of $3.13. The firm has a market cap of $44.58 million, a price-to-earnings ratio of -3.96 and a beta of 2.61.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PHUN. Wall Street Zen raised shares of Phunware from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. One investment 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, Phunware has a consensus rating of “Reduce” and a consensus price target of $2.00.

Hedge Funds Weigh In On Phunware

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in shares of Phunware by 2,255.3% in the 1st 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 during the period. Bridgeway Capital Management LLC purchased a new position in Phunware during the third quarter worth about $138,000. Virtu Financial LLC purchased a new position in Phunware during the third quarter worth about $28,000. Bank of America Corp DE lifted its position in Phunware by 13,900.9% in the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after purchasing an additional 30,304 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Phunware in the third quarter valued at about $303,000. Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.