Phunware, Inc. (NASDAQ:PHUN – Get Free Report)’s share price shot up 14.7% during trading on Tuesday . The stock traded as high as $7.99 and last traded at $5.39. 43,644,159 shares changed hands during mid-day trading, an increase of 2,138% from the average session volume of 1,950,000 shares. The stock had previously closed at $4.70.
Analyst Upgrades and Downgrades
Several research firms have commented on PHUN. Ascendiant Capital Markets lowered their price objective on Phunware from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. HC Wainwright decreased their target price on Phunware from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.
Get Our Latest Research Report on PHUN
Phunware Stock Performance
Phunware (NASDAQ:PHUN – Get Free Report) last announced 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 business had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $1.14 million. During the same quarter last year, the business earned ($3.00) EPS. Sell-side analysts expect that Phunware, Inc. will post -1.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Phunware stock. Murchinson Ltd. acquired a new stake in Phunware, Inc. (NASDAQ:PHUN – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned about 0.12% of Phunware as of its most recent filing with the SEC. 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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