HC Wainwright Issues Pessimistic Forecast for Phunware (NASDAQ:PHUN) Stock Price

Phunware (NASDAQ:PHUN) had its price target decreased by research analysts at HC Wainwright from $6.00 to $3.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s price objective points to a potential downside of 8.54% from the stock’s current price. HC Wainwright also issued estimates for Phunware’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.09) EPS and Q4 2025 earnings at ($0.12) EPS.

Phunware Trading Up 6.8 %

Shares of Phunware stock opened at $3.28 on Monday. The business has a fifty day simple moving average of $3.66 and a 200-day simple moving average of $4.60. Phunware has a fifty-two week low of $2.70 and a fifty-two week high of $14.60. The firm has a market cap of $66.16 million, a price-to-earnings ratio of -3.42 and a beta of 2.45. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.02.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.12. Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The firm had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.93 million. On average, equities analysts forecast that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHUN. Geode Capital Management LLC lifted its position in shares of Phunware by 36.6% during the 3rd quarter. Geode Capital Management LLC now owns 113,767 shares of the company’s stock valued at $389,000 after acquiring an additional 30,507 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Phunware during the fourth quarter valued at $57,000. Two Sigma Investments LP acquired a new position in shares of Phunware in the 4th quarter valued at $392,000. Northern Trust Corp boosted 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 valued at $238,000 after purchasing an additional 33,922 shares during the period. Finally, Soviero Asset Management LP purchased a new position in Phunware in the 4th quarter worth about $520,000. 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.