Phunware (NASDAQ:PHUN) Trading 2% Higher – Here’s Why

Phunware (NASDAQ:PHUN) shares traded up 2% during trading on Tuesday . The stock traded as high as $2.09 and last traded at $2.06. 138,958 shares changed hands during trading, an increase of 7% from the average session volume of 129,786 shares. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research report on Friday, March 27th. HC Wainwright restated a “neutral” rating and set a $2.00 price objective on shares of Phunware in a research report on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Phunware from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Phunware Price Performance

The firm’s fifty day moving average price is $1.98 and its 200-day moving average price is $1.94. The company has a market capitalization of $42.13 million, a price-to-earnings ratio of -3.75 and a beta of 2.66.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. The company had revenue of $0.54 million during the quarter, compared to the consensus estimate of $0.70 million. Phunware had a negative net margin of 451.68% and a negative return on equity of 11.19%. On average, research analysts predict that Phunware will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings 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 buying an additional 32,812 shares in the last quarter. Cantor Fitzgerald L. P. increased its holdings in shares of Phunware by 38.9% during the fourth 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 in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Phunware by 98.2% during the fourth quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after buying an additional 14,134 shares in the last quarter. Jane Street Group LLC increased its holdings 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 buying an additional 22,784 shares in the last quarter. Finally, HRT Financial LP acquired a new position in shares of Phunware during the fourth quarter worth $25,000. 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.