HC Wainwright lowered shares of Phunware (NASDAQ:PHUN - Free Report) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have $6.00 target price on the stock, down from their previous target price of $9.00.
Separately, Ascendiant Capital Markets cut their target price on Phunware from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, September 3rd.
Check Out Our Latest Research Report on PHUN
Phunware Stock Performance
Shares of NASDAQ:PHUN traded down $0.70 on Tuesday, hitting $5.29. 3,734,717 shares of the company were exchanged, compared to its average volume of 3,368,630. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.82 and a current ratio of 2.82. Phunware has a one year low of $2.85 and a one year high of $24.49. The company's 50 day moving average price is $5.24 and its two-hundred day moving average price is $5.32.
Institutional Investors Weigh In On Phunware
A hedge fund recently bought a new stake in Phunware stock. Virtu Financial LLC acquired a new position in shares of Phunware, Inc. (NASDAQ:PHUN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,196 shares of the company's stock, valued at approximately $91,000. Virtu Financial LLC owned approximately 0.12% of Phunware as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 7.57% of the company's stock.
About Phunware
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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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