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

Phunware (NASDAQ:PHUN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

PHUN has been the topic of a number of other research reports. HC Wainwright restated a “neutral” rating and issued a $2.00 target price on shares of Phunware in a research report on Wednesday, March 25th. Weiss Ratings upgraded shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.00.

Phunware Trading Up 1.4%

NASDAQ PHUN traded up $0.03 during trading on Friday, hitting $2.11. 92,776 shares of the company’s stock were exchanged, compared to its average volume of 88,537. The company has a market cap of $43.15 million, a PE ratio of -3.84 and a beta of 2.59. Phunware has a fifty-two week low of $1.56 and a fifty-two week high of $3.70. The stock’s 50 day moving average price is $2.01 and its two-hundred day moving average price is $1.92.

Phunware (NASDAQ:PHUN) last posted its earnings results on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $0.70 million. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%.

Institutional Trading of Phunware

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of Phunware during the third quarter worth about $303,000. Cantor Fitzgerald L. P. bought a new stake in Phunware in the third quarter valued at approximately $248,000. Bridgeway Capital Management LLC bought a new stake in Phunware in the third quarter valued at approximately $138,000. XTX Topco Ltd increased its position in 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 purchasing an additional 32,812 shares during the period. Finally, Bank of America Corp DE increased its position in Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after purchasing an additional 30,304 shares during the period. 7.57% of the stock is currently owned by institutional investors and hedge funds.

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.