Phunware (NASDAQ:PHUN) Announces Earnings Results

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

Phunware Stock Performance

Phunware stock traded up $0.01 during mid-day trading on Friday, reaching $2.28. The stock had a trading volume of 169,060 shares, compared to its average volume of 208,233. The firm has a market capitalization of $46.03 million, a PE ratio of -4.38 and a beta of 2.39. Phunware has a fifty-two week low of $2.21 and a fifty-two week high of $6.42. The stock’s 50-day simple moving average is $2.71 and its 200-day simple moving average is $2.91.

Institutional Trading of Phunware

An institutional investor recently raised its position in Phunware stock. Jane Street Group LLC grew its holdings in shares of Phunware (NASDAQ:PHUN) by 2,255.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,811 shares of the company’s stock after buying an additional 12,359 shares during the quarter. Jane Street Group LLC owned 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

PHUN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $3.00 target price on shares of Phunware in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phunware in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.67.

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.