Phunware price target lowered to $1 from $2.50 at H.C. Wainwright

H.C. Wainwright analyst Scott Buck lowered the firm’s price target on Phunware to $1 from $2.50 and keeps a Buy rating on the shares post the Q2 report. The analyst sees “several positives” but says balance sheet concerns are likely to “keep many investors at arm’s length.”