Phunware, Inc. (NASDAQ:PHUN – Get Rating) – Equities researchers at Taglich Brothers boosted their Q1 2023 earnings per share estimates for Phunware in a research report issued on Monday, April 3rd. Taglich Brothers analyst H. Halpern now anticipates that the company will earn ($0.07) per share for the quarter, up from their previous forecast of ($0.08). The consensus estimate for Phunware's current full-year earnings is ($0.28) per share. Taglich Brothers also issued estimates for Phunware's Q3 2023 earnings at ($0.06) EPS, FY2023 earnings at ($0.25) EPS, Q1 2024 earnings at ($0.05) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS and FY2024 earnings at ($0.19) EPS.

Separately, HC Wainwright decreased their price target on Phunware from $3.50 to $2.50 and set a "buy" rating for the company in a research note on Friday, March 24th.

Phunware Trading Up 5.6 %

NASDAQ:PHUN opened at $0.72 on Thursday. The firm has a market capitalization of $74.59 million, a price-to-earnings ratio of -1.41 and a beta of 10.23. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 0.10. The business's 50-day moving average price is $0.89 and its two-hundred day moving average price is $1.02. Phunware has a 1-year low of $0.61 and a 1-year high of $2.42.

Institutional Investors Weigh In On Phunware

Several large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC purchased a new stake in Phunware in the first quarter worth $29,000. Cetera Advisor Networks LLC purchased a new position in Phunware during the 1st quarter valued at about $31,000. Vident Investment Advisory LLC purchased a new position in Phunware during the 1st quarter valued at about $36,000. PEAK6 Investments LLC purchased a new position in shares of Phunware during the 1st quarter worth approximately $118,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Phunware by 189.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 46,924 shares of the company's stock worth $51,000 after purchasing an additional 30,700 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company's stock.

About Phunware

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Phunware, Inc engages in the development of a Multiscreen-as-a-Service platform, an enterprise cloud platform for mobile devices. It provides companies the products, solutions, data, and services necessary to engage, manage, and monetize mobile application portfolios and audiences at scale. Its platform also allows for the licensing and creation of category-defining mobile experiences for brands and their application users worldwide.

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