Phunware (NASDAQ:PHUN) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Phunware (NASDAQ:PHUN) from a hold rating to a sell rating in a research note published on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research 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. According to data from MarketBeat.com, Phunware presently has a consensus rating of “Reduce” and a consensus price target of $2.00.

Phunware Stock Performance

PHUN opened at $2.08 on Friday. The stock has a market cap of $42.56 million, a PE ratio of -3.20 and a beta of 2.61. The stock’s fifty day simple moving average is $2.11 and its 200 day simple moving average is $1.99. Phunware has a 1-year low of $1.56 and a 1-year high of $3.13.

Phunware (NASDAQ:PHUN) last posted its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.12). The company had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.80 million. Phunware had a negative return on equity of 13.79% and a negative net margin of 471.72%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Phunware during the 3rd quarter worth $28,000. Jane Street Group LLC increased its position in shares of 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 purchasing an additional 12,359 shares during the period. HRT Financial LP acquired a new position in Phunware in the fourth quarter valued at about $25,000. Panagora Asset Management Inc. raised its stake in Phunware by 98.2% in the fourth quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock valued at $53,000 after purchasing an additional 14,134 shares in the last quarter. Finally, Bank of America Corp DE raised its stake 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 in the last quarter. 7.57% of the stock is owned by 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.