Phunware (NASDAQ:PHUN) Given New $3.00 Price Target at HC Wainwright

Phunware (NASDAQ:PHUN) had its price objective decreased by HC Wainwright from $6.00 to $3.00 in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Phunware Stock Up 4.1 %

Phunware stock opened at $3.07 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80. Phunware has a fifty-two week low of $2.70 and a fifty-two week high of $14.60. The firm has a fifty day moving average price of $3.70 and a two-hundred day moving average price of $4.60. The firm has a market cap of $61.92 million, a price-to-earnings ratio of -3.20 and a beta of 2.45.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.12. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.93 million. As a group, analysts forecast that Phunware will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Phunware

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Phunware by 36.6% in the 3rd quarter. Geode Capital Management LLC now owns 113,767 shares of the company’s stock worth $389,000 after purchasing an additional 30,507 shares during the last quarter. Millennium Management LLC acquired a new stake in Phunware during the fourth quarter worth about $57,000. Two Sigma Investments LP acquired a new position in Phunware in the 4th quarter valued at approximately $392,000. Northern Trust Corp lifted its position in shares of Phunware by 285.4% in the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after acquiring an additional 33,922 shares during the period. Finally, Soviero Asset Management LP acquired a new stake in shares of Phunware during the 4th quarter worth approximately $520,000. Institutional investors and hedge funds 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.