Phunware (NASDAQ:PHUN) Stock Price Down 2.4% – Here’s What Happened

by · The Markets Daily

Phunware (NASDAQ:PHUN – Get Free Report) dropped 2.4% during trading on Friday . The stock traded as low as $2.02 and last traded at $2.02. Approximately 80,550 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 149,041 shares. The stock had previously closed at $2.07.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research note on Monday, December 8th. HC Wainwright decreased their price objective on shares of Phunware from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.33.

View Our Latest Stock Analysis on Phunware

Phunware Stock Performance

The firm has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $2.75. The firm has a market cap of $40.78 million, a price-to-earnings ratio of -3.88 and a beta of 2.65.

Phunware (NASDAQ:PHUN – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.53 million. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. Analysts expect that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new stake in shares of Phunware during the first quarter worth approximately $30,000. Atria Wealth Solutions Inc. bought a new stake in Phunware in the 1st quarter valued at $30,000. Virtu Financial LLC acquired a new position in Phunware in the 3rd quarter valued at $28,000. R Squared Ltd bought a new position in Phunware during the 2nd quarter worth $39,000. Finally, Jane Street Group LLC lifted its holdings in shares of Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after buying an additional 12,359 shares in the last quarter. 7.57% of the stock is owned by institutional investors.

About Phunware

(Get Free Report)

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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