Soviero Asset Management LP Invests $520,000 in Phunware, Inc. (NASDAQ:PHUN)

Soviero Asset Management LP purchased a new position in Phunware, Inc. (NASDAQ:PHUN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company's stock, valued at approximately $520,000. Soviero Asset Management LP owned 0.50% of Phunware at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PHUN. Geode Capital Management LLC boosted its holdings in shares of Phunware by 87.9% in the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company's stock worth $1,112,000 after acquiring an additional 100,010 shares during the period. Two Sigma Investments LP purchased a new position in Phunware in the 4th quarter worth approximately $392,000. Northern Trust Corp raised its position in Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company's stock valued at $238,000 after purchasing an additional 33,922 shares in the last quarter. Marshall Wace LLP purchased a new stake in Phunware during the fourth quarter valued at about $122,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Phunware during the fourth quarter valued at about $89,000. 7.57% of the stock is owned by institutional investors.

Phunware Trading Up 8.7%

Shares of NASDAQ:PHUN traded up $0.25 on Thursday, reaching $3.13. 285,356 shares of the company traded hands, compared to its average volume of 2,274,242. The business's 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.89. Phunware, Inc. has a 52 week low of $2.22 and a 52 week high of $14.60. The stock has a market capitalization of $63.14 million, a P/E ratio of -3.86 and a beta of 2.58. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02.

Phunware (NASDAQ:PHUN - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $0.69 million for the quarter, compared to analysts' expectations of $0.60 million. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. As a group, equities analysts anticipate that Phunware, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PHUN shares. Roth Capital set a $4.50 price target on Phunware in a research report on Monday, March 24th. HC Wainwright lowered their price target on Phunware from $6.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Ascendiant Capital Markets lowered their price target on Phunware from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, April 21st.

Phunware Company Profile

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.