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

Phunware (NASDAQ:PHUN) had its price objective decreased by HC Wainwright from $6.00 to $3.00 in a research report sent to investors on Monday morning, Marketbeat reports. HC Wainwright currently has a neutral rating on the stock. 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, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.39) EPS.

Phunware Trading Down 4.3 %

Shares of PHUN opened at $3.14 on Monday. Phunware has a 12-month low of $2.70 and a 12-month high of $14.60. The firm has a market capitalization of $63.34 million, a P/E ratio of -3.27 and a beta of 2.45. The firm has a 50-day moving average price of $3.61 and a 200 day moving average price of $4.59. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02.

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

Institutional Investors Weigh In On Phunware

A number of institutional investors and hedge funds have recently made changes to their positions in PHUN. Geode Capital Management LLC boosted its position in shares of Phunware by 87.9% during the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after buying an additional 100,010 shares during the period. Soviero Asset Management LP acquired a new position in shares of Phunware during the fourth quarter worth about $520,000. Two Sigma Investments LP purchased a new stake in shares of Phunware in the 4th quarter valued at approximately $392,000. Northern Trust Corp increased its holdings in Phunware by 285.4% in the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock valued at $238,000 after buying an additional 33,922 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Phunware in the fourth quarter valued at $122,000. 7.57% of the stock is owned by hedge funds and other institutional investors.

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.