Phunware's (PHUN) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Phunware's stock has received a reaffirmed "sell (e+)" rating from Weiss Ratings, indicating ongoing negative sentiment from analysts.
• HC Wainwright has issued a "neutral" rating and a price target of $3.00, while the stock consensus target price is $6.67.
• Phunware's recent earnings report showed a loss of ($0.16) per share, missing estimates, with total revenue of $0.46 million.

Phunware (NASDAQ:PHUN - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, HC Wainwright reissued a "neutral" rating and issued a $3.00 price target on shares of Phunware in a report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.67.

Phunware Price Performance

NASDAQ:PHUN opened at $3.01 on Wednesday. The firm has a market cap of $60.77 million, a price-to-earnings ratio of -4.63 and a beta of 2.47. The company has a 50 day moving average price of $2.70 and a 200-day moving average price of $2.92. Phunware has a 1-year low of $2.22 and a 1-year high of $14.60.

Phunware (NASDAQ:PHUN - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $0.46 million for the quarter, compared to analysts' expectations of $0.74 million. Phunware had a negative net margin of 510.83% and a negative return on equity of 12.99%. On average, sell-side analysts anticipate that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phunware

A number of large investors have recently modified their holdings of PHUN. Charles Schwab Investment Management Inc. purchased a new stake in shares of Phunware during the first quarter worth $30,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Phunware during the first quarter worth $30,000. Jane Street Group LLC grew its holdings in shares of Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company's stock worth $35,000 after buying an additional 12,359 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Phunware during the second quarter worth $39,000. Finally, Millennium Management LLC purchased a new stake in shares of Phunware during the fourth quarter worth $57,000. Hedge funds and other institutional investors 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.

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