Phunware (NASDAQ:PHUN) Given New $9.00 Price Target at HC Wainwright

Phunware (NASDAQ:PHUN) had its price objective hoisted by HC Wainwright from $7.00 to $9.00 in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Separately, Ascendiant Capital Markets lowered their target price on Phunware from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd.

Phunware Stock Down 9.5 %

Shares of PHUN stock opened at $6.77 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.82 and a quick ratio of 2.82. Phunware has a 12-month low of $2.85 and a 12-month high of $24.49. The firm has a 50-day moving average price of $3.71 and a 200 day moving average price of $5.19.

Phunware (NASDAQ:PHUN) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The firm had revenue of $1.01 million during the quarter, compared to the consensus estimate of $1.14 million. During the same quarter last year, the firm posted ($3.00) EPS. On average, research analysts predict that Phunware will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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 first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned 0.12% of Phunware at the end of the most recent quarter. 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.