Phunware (NASDAQ:PHUN) Stock Price Down 2.5% – Should You Sell?

Phunware (NASDAQ:PHUN)’s stock price traded down 2.5% during trading on Monday. The stock traded as low as $1.99 and last traded at $1.99. Approximately 53,927 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 74,827 shares. The stock had previously closed at $2.04.

Analysts Set New Price Targets

A number of brokerages recently commented on PHUN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phunware in a report on Friday, October 2nd. Wall Street Zen lowered Phunware from a “hold” rating to a “sell” rating in a report on Sunday, September 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Phunware currently has a consensus rating of “Reduce” and an average price target of $2.00.

Phunware Stock Down 2.5%

The stock has a market capitalization of $40.72 million, a PE ratio of -3.06 and a beta of 2.59. The stock’s 50 day moving average price is $2.05 and its 200-day moving average price is $2.05.

Phunware (NASDAQ:PHUN) last released its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.12). Phunware had a negative net margin of 471.72% and a negative return on equity of 13.79%. The firm had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.80 million.

About Phunware

Phunware, Inc is a software company that provides mobile application and location-based technology for organizations seeking to engage customers, employees, patients, and visitors through smartphones and other connected devices. Its platform is designed to support the development, management, and operation of branded mobile applications.

The company’s offerings include mobile application infrastructure, content management, analytics, engagement tools, and location-based services. These capabilities can support functions such as indoor mapping and navigation, messaging, loyalty programs, notifications, wayfinding, and digital experiences tailored to specific venues or audiences.

Phunware has marketed its technology to customers in sectors including healthcare, hospitality, sports and entertainment, retail, and other enterprise industries.