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Phunware downgraded to Neutral from Buy at H.C. Wainwright
The Fly

Phunware downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Phunware (PHUN) to Neutral from Buy with a price target of $6, down from $9. The company’s strategic plan will likely to take some time to develop, the analyst tells investors in a research note. The firm says that while Phunware currently has a strong balance sheet position, the current lack of visibility into future operations has it moving to a Neutral rating.

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