Phunware (NASDAQ:PHUN) Releases Earnings Results, Beats Estimates By $0.03 EPS

Phunware (NASDAQ:PHUN) announced its quarterly earnings results on Friday. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03, reports. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. The company had revenue of $0.79 million for the quarter, compared to analysts’ expectations of $0.61 million.

Phunware Stock Performance

NASDAQ PHUN opened at $1.80 on Friday. The firm’s 50 day moving average price is $1.80 and its 200-day moving average price is $2.18. Phunware has a 52-week low of $1.56 and a 52-week high of $3.88. The company has a market cap of $36.34 million, a PE ratio of -3.46 and a beta of 2.64.

Hedge Funds Weigh In On Phunware

A number of large investors have recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. grew its stake in Phunware by 38.9% during the 4th 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 during the last quarter. Citadel Advisors LLC acquired a new stake in Phunware in the third quarter worth about $303,000. Jane Street Group LLC grew its stake in shares of Phunware by 44.9% during the fourth quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after acquiring an additional 22,784 shares during the last quarter. XTX Topco Ltd grew its stake 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 acquiring an additional 32,812 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Phunware during the third quarter valued at about $138,000. 7.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PHUN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a research note on Monday, December 29th. Wall Street Zen raised shares of Phunware from a “sell” rating to a “hold” rating in a research report on Saturday. One investment 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 presently has a consensus rating of “Hold” and an average price target of $6.33.

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.