Phunware (NASDAQ:PHUN – Free Report) had its price objective lowered by Ascendiant Capital Markets from $22.00 to $20.00 in a report released on Tuesday morning, Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.
Separately, HC Wainwright reduced their price objective on shares of Phunware from $12.00 to $7.00 and set a buy rating for the company in a research note on Friday, August 9th.
Read Our Latest Research Report on PHUN
Phunware Stock Down 1.8 %
Phunware (NASDAQ:PHUN – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05. The business had revenue of $1.01 million during the quarter, compared to the consensus estimate of $1.14 million. During the same quarter last year, the firm posted ($3.00) earnings per share. Analysts forecast that Phunware will post -1.32 EPS for the current fiscal year.
Insider Activity at Phunware
In related news, CEO Michael Snavely sold 6,000 shares of Phunware stock in a transaction on Friday, July 12th. The stock was sold at an average price of $5.67, for a total transaction of $34,020.00. Following the completion of the sale, the chief executive officer now owns 19,143 shares of the company’s stock, valued at $108,540.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.
Institutional Trading of Phunware
A hedge fund recently bought a new stake in Phunware stock. Murchinson Ltd. bought a new stake in Phunware, Inc. (NASDAQ:PHUN – Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned about 0.12% of Phunware at the end of the most recent quarter. Institutional investors own 7.57% of the company’s stock.
About Phunware
Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.
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