Phunware (NASDAQ:PHUN) Downgraded by HC Wainwright to Neutral

HC Wainwright lowered shares of Phunware (NASDAQ:PHUN) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports. They currently have $6.00 price target on the stock, down from their previous price target 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.

Phunware Price Performance

Shares of NASDAQ:PHUN opened at $5.34 on Tuesday. The company has a current ratio of 3.80, a quick ratio of 2.82 and a debt-to-equity ratio of 0.02. Phunware has a 12-month low of $2.85 and a 12-month high of $24.49. The business’s fifty day simple moving average is $5.24 and its 200-day simple moving average is $5.32.

Institutional Trading of Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new stake in Phunware, Inc. (NASDAQ:PHUN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned about 0.12% of Phunware as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 7.57% of the company’s stock.

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.