Phunware’s (PHUN) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d-) rating on shares of Phunware (NASDAQ:PHUN) in a research note published on Friday morning,Weiss Ratings reports.

Separately, HC Wainwright reissued a “neutral” rating and issued a $3.00 price target on shares of Phunware in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.67.

Phunware Trading Up 2.4%

Shares of PHUN stock opened at $2.57 on Friday. The company’s fifty day moving average price is $2.74 and its 200-day moving average price is $2.92. The stock has a market cap of $51.89 million, a PE ratio of -3.95 and a beta of 2.39. Phunware has a 12 month low of $2.22 and a 12 month high of $7.88.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Phunware had a negative net margin of 510.83% and a negative return on equity of 12.99%. The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.74 million. On average, sell-side analysts forecast that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phunware

A number of institutional investors have recently made changes to their positions in PHUN. Atria Wealth Solutions Inc. bought a new stake in shares of Phunware during the first quarter valued at approximately $30,000. R Squared Ltd bought a new position in Phunware in the 2nd quarter valued at approximately $39,000. Charles Schwab Investment Management Inc. purchased a new stake in Phunware during the 1st quarter valued at $30,000. Finally, Jane Street Group LLC increased its holdings 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 purchasing an additional 12,359 shares in the last quarter. Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.