Phunware (NASDAQ:PHUN) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Phunware reported a quarterly earnings per share (EPS) of ($0.16), which missed analysts' expectations of ($0.15) by $0.01.
• The company's stock price decreased to $2.58 amid trading, with a market cap of $52.04 million and a significant negative net margin of 397.39%.
• Institutional investor Jane Street Group LLC increased its stake in Phunware by 2,255.3%, owning about 0.06% of the company after acquiring additional shares.

Phunware (NASDAQ:PHUN - Get Free Report) posted its quarterly earnings results on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01), Zacks reports. Phunware had a negative return on equity of 12.99% and a negative net margin of 510.83%. The business had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.74 million.

Phunware Price Performance

PHUN traded up $0.28 during trading on Wednesday, reaching $2.85. 437,777 shares of the company's stock were exchanged, compared to its average volume of 509,436. Phunware has a 1 year low of $2.22 and a 1 year high of $14.60. The stock has a market capitalization of $57.56 million, a P/E ratio of -4.41 and a beta of 2.30. The company's fifty day simple moving average is $3.11 and its 200-day simple moving average is $3.11.

Hedge Funds Weigh In On Phunware

An institutional investor recently raised its position in Phunware stock. Jane Street Group LLC grew its position in shares of Phunware (NASDAQ:PHUN - Free Report) by 2,255.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,811 shares of the company's stock after purchasing an additional 12,359 shares during the quarter. Jane Street Group LLC owned approximately 0.06% of Phunware worth $35,000 as of its most recent SEC filing. Institutional investors and hedge funds own 7.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised their price target 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 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.