Two Sigma Investments LP Takes $392,000 Position in Phunware, Inc. (NASDAQ:PHUN)

Two Sigma Investments LP purchased a new position in shares of Phunware, Inc. (NASDAQ:PHUN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 75,478 shares of the company's stock, valued at approximately $392,000. Two Sigma Investments LP owned 0.37% of Phunware at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PHUN. Millennium Management LLC purchased a new position in Phunware during the 4th quarter worth $57,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Phunware during the fourth quarter worth about $85,000. Dimensional Fund Advisors LP purchased a new position in Phunware during the fourth quarter worth about $89,000. Marshall Wace LLP acquired a new stake in Phunware in the fourth quarter valued at about $122,000. Finally, Northern Trust Corp boosted its holdings in 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 purchasing an additional 33,922 shares in the last quarter. 7.57% of the stock is owned by institutional investors and hedge funds.

Phunware Price Performance

PHUN traded down $0.20 during trading on Friday, reaching $3.08. 256,941 shares of the stock were exchanged, compared to its average volume of 2,279,249. Phunware, Inc. has a 1 year low of $2.22 and a 1 year high of $14.60. The company has a market capitalization of $62.13 million, a price-to-earnings ratio of -3.80 and a beta of 2.35. The business's 50 day moving average price is $2.94 and its two-hundred day moving average price is $3.63. 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 (NASDAQ:PHUN - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The business had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.60 million. As a group, equities research analysts anticipate that Phunware, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

PHUN has been the subject of several recent analyst reports. HC Wainwright reduced their price target on Phunware from $6.00 to $3.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Roth Capital set a $4.50 price target on shares of Phunware in a report on Monday, March 24th. Finally, Ascendiant Capital Markets upped their target price on shares of Phunware from $12.00 to $12.50 and gave the stock a "buy" rating in a research report on Friday, June 6th.

Phunware 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.