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

Two Sigma Investments LP purchased a new stake in shares of Phunware, Inc. (NASDAQ:PHUN - Free Report) in the fourth 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 about 0.37% of Phunware at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Phunware in the fourth quarter worth about $57,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Phunware during the 4th quarter valued at approximately $85,000. Dimensional Fund Advisors LP bought a new position in Phunware in the 4th quarter worth approximately $89,000. Marshall Wace LLP bought a new stake in Phunware during the 4th quarter valued at $122,000. Finally, Northern Trust Corp lifted its position in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company's stock worth $238,000 after acquiring an additional 33,922 shares in the last quarter. 7.57% of the stock is owned by hedge funds and other institutional investors.

Phunware Price Performance

Shares of Phunware stock traded down $0.20 during trading on Friday, hitting $3.08. The stock had a trading volume of 256,941 shares, compared to its average volume of 2,287,995. 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, Inc. has a 12 month low of $2.22 and a 12 month high of $14.60. The firm has a market cap 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 is $2.94 and its 200 day moving average is $3.63.

Phunware (NASDAQ:PHUN - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($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 $0.69 million for the quarter, compared to analyst estimates of $0.60 million. As a group, sell-side analysts anticipate that Phunware, Inc. will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Roth Capital set a $4.50 price target on Phunware in a research report on Monday, March 24th. Ascendiant Capital Markets lifted their target price on Phunware from $12.00 to $12.50 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, HC Wainwright lowered their price target on shares of Phunware from $6.00 to $3.00 and set a "neutral" rating on the stock in a report on Monday, March 24th.

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.