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

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

Separately, Weiss Ratings upgraded shares of Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Phunware presently has an average rating of “Reduce” and an average price target of $2.00.

Phunware Price Performance

Shares of NASDAQ:PHUN opened at $2.13 on Friday. The business’s 50 day moving average price is $2.05 and its 200-day moving average price is $1.95. Phunware has a 1 year low of $1.56 and a 1 year high of $3.13. The firm has a market capitalization of $43.55 million, a price-to-earnings ratio of -3.28 and a beta of 2.61.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.12). The company had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.80 million. Phunware had a negative return on equity of 13.52% and a negative net margin of 471.72%.

Institutional Trading of Phunware

A number of institutional investors have recently made changes to their positions in PHUN. Citadel Advisors LLC purchased a new position in shares of Phunware in the third quarter worth about $303,000. Bridgeway Capital Management LLC purchased a new stake in Phunware during the 3rd quarter valued at about $138,000. 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 valued at $231,000 after acquiring an additional 35,000 shares in the last quarter. XTX Topco Ltd raised its holdings in Phunware by 177.6% in the 4th quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after acquiring an additional 32,812 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Phunware by 13,900.9% in the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after acquiring an additional 30,304 shares during the last quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

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.