Phunware (NASDAQ:PHUN) Rating Lowered to Sell at Wall Street Zen

Phunware (NASDAQ:PHUN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Phunware from a “sell (e+)” rating to a “sell (d-)” rating in a 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 company’s stock. Based on data from MarketBeat.com, Phunware currently has a consensus rating of “Reduce” and an average price target of $2.00.

Phunware Stock Performance

Phunware stock opened at $2.08 on Friday. Phunware has a 12-month low of $1.56 and a 12-month high of $3.13. The firm has a 50-day moving average price of $2.11 and a 200-day moving average price of $1.99. The firm has a market capitalization of $42.56 million, a PE ratio of -3.20 and a beta of 2.61.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $0.80 million.

Institutional Investors Weigh In On Phunware

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in Phunware during the 3rd quarter valued at $303,000. Bridgeway Capital Management LLC bought a new position in shares of Phunware during the 3rd quarter worth $138,000. Cantor Fitzgerald L. P. grew its position in shares of 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 in the last quarter. XTX Topco Ltd grew its position in shares of Phunware by 177.6% during the 4th 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. Finally, Bank of America Corp DE increased its stake in shares of Phunware by 13,900.9% during the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after buying an additional 30,304 shares during the period. Institutional investors own 7.57% of the company’s stock.

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.