Two Sigma Investments LP Invests $392,000 in Phunware, Inc. (NASDAQ:PHUN)

Two Sigma Investments LP bought a new position in shares of Phunware, Inc. (NASDAQ:PHUN) in the 4th quarter, HoldingsChannel reports. The fund bought 75,478 shares of the company’s stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHUN. Geode Capital Management LLC increased its position in shares of Phunware by 87.9% during the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after acquiring an additional 100,010 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Phunware during the fourth quarter worth about $122,000. Dimensional Fund Advisors LP bought a new stake in shares of Phunware during the fourth quarter worth about $89,000. Northern Trust Corp increased its position in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after acquiring an additional 33,922 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Phunware during the fourth quarter worth about $85,000. 7.57% of the stock is owned by institutional investors.

Phunware Stock Up 14.2%

Phunware stock opened at $3.71 on Wednesday. Phunware, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $14.60. The stock has a market cap of $74.83 million, a PE ratio of -4.58 and a beta of 2.35. The firm’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $3.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80.

Phunware (NASDAQ:PHUN) last released its earnings results on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.60 million. Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. Research analysts predict that Phunware, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PHUN shares. Ascendiant Capital Markets boosted their price target on shares of Phunware from $12.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, June 6th. HC Wainwright cut their price target on shares of Phunware from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, Roth Capital set a $4.50 price target on shares of Phunware in a report on Monday, March 24th.

Phunware 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.