Phunware (NASDAQ:PHUN) Issues Earnings Results

Phunware (NASDAQ:PHUN) announced its earnings results on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01), Zacks reports. The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.74 million. Phunware had a negative return on equity of 16.61% and a negative net margin of 397.39%.

Phunware Stock Performance

Shares of PHUN opened at $2.58 on Friday. The stock has a market capitalization of $52.04 million, a P/E ratio of -3.97 and a beta of 2.30. Phunware has a 12-month low of $2.22 and a 12-month high of $14.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.40 and a quick ratio of 15.41. The firm’s 50 day moving average is $3.13 and its 200-day moving average is $3.14.

Hedge Funds Weigh In On Phunware

An institutional investor recently raised its position in Phunware stock. Jane Street Group LLC increased its stake in Phunware (NASDAQ:PHUN) by 2,255.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,811 shares of the company’s stock after purchasing an additional 12,359 shares during the quarter. Jane Street Group LLC owned approximately 0.06% of Phunware worth $35,000 at the end of the most recent reporting period. 7.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets boosted their price objective on shares of Phunware from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, June 6th.

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.