Phunware (NASDAQ:PHUN) Price Target Lowered to $7.00 at HC Wainwright

Phunware (NASDAQ:PHUN) had its target price decreased by HC Wainwright from $12.00 to $7.00 in a research report sent to investors on Friday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Phunware Price Performance

NASDAQ PHUN traded up $0.32 during mid-day trading on Friday, reaching $3.80. 595,508 shares of the stock were exchanged, compared to its average volume of 2,117,859. Phunware has a 1-year low of $3.10 and a 1-year high of $24.49. The business’s fifty day simple moving average is $5.20 and its 200 day simple moving average is $8.24. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.06.

Phunware (NASDAQ:PHUN) last announced its earnings results on Thursday, May 9th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05. The firm had revenue of $0.92 million for the quarter, compared to analyst estimates of $1.15 million. During the same quarter last year, the business posted ($3.50) EPS. As a group, equities analysts forecast that Phunware will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Phunware

In other Phunware news, CEO Michael Snavely sold 6,000 shares of Phunware stock in a transaction on Friday, July 12th. The shares were sold at an average price of $5.67, for a total value of $34,020.00. Following the transaction, the chief executive officer now owns 19,143 shares in the company, valued at approximately $108,540.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 10,500 shares of company stock worth $62,849 in the last quarter. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Phunware

An institutional investor recently bought a new position in Phunware stock. Murchinson Ltd. bought a new stake in shares of Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned approximately 0.12% of Phunware at the end of the most recent quarter. 7.57% of the stock is currently owned by institutional investors and hedge funds.

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.