Phunware (NASDAQ:PHUN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Phunware (NASDAQ:PHUN) from a hold rating to a sell rating in a report released on Sunday.

Several other research analysts also recently commented on PHUN. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. HC Wainwright reiterated a “neutral” rating and issued a $2.00 price target on shares of Phunware in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.25.

Phunware Stock Up 4.7%

PHUN stock opened at $1.77 on Friday. The company’s 50-day moving average price is $1.78 and its two-hundred day moving average price is $2.13. The firm has a market cap of $35.74 million, a P/E ratio of -3.11 and a beta of 2.64. Phunware has a 12 month low of $1.56 and a 12 month high of $3.88.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $0.79 million during the quarter, compared to the consensus estimate of $0.61 million. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.23%. Equities analysts predict that Phunware will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Phunware

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in Phunware in the third quarter valued at approximately $303,000. Cantor Fitzgerald L. P. increased its holdings in shares of Phunware by 38.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock worth $231,000 after buying an additional 35,000 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Phunware in the 3rd quarter valued at $138,000. Jane Street Group LLC lifted its stake in shares of Phunware by 44.9% in the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock valued at $136,000 after acquiring an additional 22,784 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Phunware by 177.6% during the 4th quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after acquiring an additional 32,812 shares in the last quarter. Institutional investors own 7.57% of the company’s stock.

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.