Phunware (NASDAQ:PHUN) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.25.

Phunware Stock Up 1.1%

PHUN stock opened at $1.82 on Friday. The stock has a market capitalization of $36.75 million, a PE ratio of -3.19 and a beta of 2.64. Phunware has a 52 week low of $1.56 and a 52 week high of $3.88. The firm has a 50 day moving average of $1.80 and a 200 day moving average of $2.17.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The business had revenue of $0.79 million for the quarter, compared to analyst estimates of $0.61 million. Phunware had a negative net margin of 446.57% and a negative return on equity of 10.11%. On average, equities research analysts expect that Phunware will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Phunware

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in Phunware during the 3rd quarter valued at approximately $303,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Phunware in the 3rd quarter valued at $248,000. Bridgeway Capital Management LLC acquired a new stake in shares of Phunware in the third quarter worth $138,000. XTX Topco Ltd raised its holdings in shares of Phunware by 177.6% during the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after purchasing an additional 32,812 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Phunware by 13,900.9% during the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after purchasing an additional 30,304 shares during the last quarter. Institutional investors and hedge funds own 7.57% of the company’s stock.

About Phunware

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.