Phunware (NASDAQ:PHUN) Given New $12.00 Price Target at Ascendiant Capital Markets

Phunware (NASDAQ:PHUN - Get Free Report) had its price objective reduced by investment analysts at Ascendiant Capital Markets from $13.00 to $12.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Ascendiant Capital Markets' price objective would indicate a potential upside of 301.34% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Roth Capital set a $4.50 price objective on Phunware in a research note on Monday, March 24th. HC Wainwright lowered their price objective on shares of Phunware from $6.00 to $3.00 and set a "neutral" rating for the company in a research report on Monday, March 24th.

Phunware Trading Up 0.3 %

Shares of PHUN traded up $0.01 during trading hours on Monday, hitting $2.99. The stock had a trading volume of 155,760 shares, compared to its average volume of 2,288,985. Phunware has a 12-month low of $2.22 and a 12-month high of $14.60. The firm has a market cap of $60.31 million, a P/E ratio of -3.11 and a beta of 2.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80. The company's fifty day simple moving average is $2.90 and its 200 day simple moving average is $4.46.

Phunware (NASDAQ:PHUN - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.12. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.93 million. Equities research analysts forecast that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Phunware

A number of hedge funds have recently bought and sold shares of the business. Soviero Asset Management LP purchased a new position in shares of Phunware during the 4th quarter valued at approximately $520,000. Two Sigma Investments LP bought a new position in Phunware during the 4th quarter valued at $392,000. Millennium Management LLC acquired a new position in Phunware during the 4th quarter worth $57,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Phunware in the 4th quarter worth about $85,000. Finally, Northern Trust Corp increased its position in shares of Phunware by 285.4% in the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company's stock worth $238,000 after purchasing an additional 33,922 shares during the last quarter. Institutional investors and hedge funds own 7.57% of the company's stock.

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.