HC Wainwright Increases Phunware (NASDAQ:PHUN) Price Target to $9.00

Phunware (NASDAQ:PHUN) had its price target raised by HC Wainwright from $7.00 to $9.00 in a research note published on Thursday morning, MarketBeat reports. HC Wainwright currently has a buy rating on the stock.

Separately, Ascendiant Capital Markets lowered their target price on Phunware from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd.

Phunware Price Performance

Shares of NASDAQ PHUN opened at $6.77 on Thursday. The business has a fifty day moving average of $3.71 and a two-hundred day moving average of $5.16. Phunware has a 52-week low of $2.85 and a 52-week high of $24.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.82.

Phunware (NASDAQ:PHUN) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The business had revenue of $1.01 million during the quarter, compared to analyst estimates of $1.14 million. During the same quarter last year, the business posted ($3.00) earnings per share. As a group, research analysts forecast that Phunware will post -1.21 EPS for the current year.

Institutional Trading of Phunware

A hedge fund recently bought a new stake in Phunware stock. Murchinson Ltd. acquired a new position in Phunware, Inc. (NASDAQ:PHUN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned 0.12% of Phunware as of its most recent SEC filing. 7.57% of the stock is owned by hedge funds and other institutional investors.

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.