Phunware (NASDAQ:PHUN) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Phunware (NASDAQ:PHUN - Get Free Report) had its price objective raised by analysts at Ascendiant Capital Markets from $12.00 to $12.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Ascendiant Capital Markets' target price points to a potential upside of 287.00% from the company's current price.

PHUN has been the subject of a number of other reports. Roth Capital set a $4.50 price objective on shares of Phunware in a research report on Monday, March 24th. HC Wainwright cut their price target on shares of Phunware from $6.00 to $3.00 and set a "neutral" rating for the company in a report on Monday, March 24th.

Phunware Stock Performance

Phunware stock traded up $0.30 during mid-day trading on Friday, reaching $3.23. The company's stock had a trading volume of 787,841 shares, compared to its average volume of 2,272,345. The firm's fifty day moving average price is $2.87 and its two-hundred day moving average price is $3.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80. Phunware has a 12-month low of $2.22 and a 12-month high of $14.60. The company has a market capitalization of $65.15 million, a P/E ratio of -3.99 and a beta of 2.35.

Phunware (NASDAQ:PHUN - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.60 million. Sell-side analysts predict that Phunware will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Phunware

A number of institutional investors have recently added to or reduced their stakes in PHUN. Geode Capital Management LLC boosted its position in shares of Phunware by 87.9% during the 4th quarter. Geode Capital Management LLC now owns 213,777 shares of the company's stock valued at $1,112,000 after acquiring an additional 100,010 shares during the last quarter. Soviero Asset Management LP purchased a new stake in Phunware in the fourth quarter valued at approximately $520,000. Two Sigma Investments LP bought a new stake in Phunware during the fourth quarter valued at approximately $392,000. Northern Trust Corp grew its stake in 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 buying an additional 33,922 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Phunware in the 4th quarter worth $122,000. 7.57% of the stock is currently owned by institutional investors.

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.