Phunware (NASDAQ:PHUN) Posts Quarterly Earnings Results

Phunware (NASDAQ:PHUN) posted its quarterly earnings results on Thursday. The company reported ($0.26) EPS for the quarter, Zacks reports. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%.

Phunware Stock Performance

PHUN stock traded down $0.06 on Thursday, reaching $2.18. The company’s stock had a trading volume of 73,120 shares, compared to its average volume of 143,171. Phunware has a 12-month low of $1.56 and a 12-month high of $3.13. The firm has a market cap of $44.57 million, a PE ratio of -3.96 and a beta of 2.61. The business has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $1.95.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Phunware from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $2.00.

Hedge Funds Weigh In On Phunware

Institutional investors have recently bought and sold shares of the stock. Cantor Fitzgerald L. P. boosted its position in Phunware by 38.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock valued at $231,000 after acquiring an additional 35,000 shares in the last quarter. Jane Street Group LLC raised its position 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 worth $136,000 after acquiring an additional 22,784 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Phunware in the 3rd quarter worth approximately $303,000. Bridgeway Capital Management LLC purchased a new position in shares of Phunware in the 3rd quarter valued at approximately $138,000. Finally, XTX Topco Ltd boosted its position in shares of Phunware by 177.6% during the fourth 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 in the last quarter. 7.57% of the stock is owned by institutional investors.

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.