Phunware (NASDAQ:PHUN) Price Target Cut to $3.00 by Analysts at HC Wainwright

Phunware (NASDAQ:PHUN) had its target price reduced by analysts at HC Wainwright from $6.00 to $3.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 1.69% from the company’s previous close.

Phunware Stock Performance

Shares of NASDAQ PHUN opened at $2.95 on Monday. Phunware has a 52-week low of $2.70 and a 52-week high of $14.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80. The firm has a 50 day moving average price of $3.76 and a 200 day moving average price of $4.60.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.12. Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million. On average, sell-side analysts forecast that Phunware will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Phunware

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Phunware by 87.9% during the 4th quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after buying an additional 100,010 shares during the last quarter. Soviero Asset Management LP acquired a new position in shares of Phunware during the 4th quarter worth approximately $520,000. Two Sigma Investments LP bought a new stake in shares of Phunware during the 4th quarter worth approximately $392,000. Northern Trust Corp boosted its holdings in shares of Phunware by 285.4% in the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock valued at $238,000 after buying an additional 33,922 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Phunware in the 4th quarter valued at approximately $122,000. 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.