Phunware, Inc. (NASDAQ:PHUN) Sees Large Growth in Short Interest

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,450,000 shares, a growth of 21.9% from the December 31st total of 2,010,000 shares. Approximately 12.2% of the shares of the stock are short sold. Based on an average trading volume of 6,340,000 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Ascendiant Capital Markets reduced their price target on shares of Phunware from $20.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. HC Wainwright lowered shares of Phunware from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $6.00 in a report on Tuesday, November 12th.

Phunware Price Performance

Shares of PHUN traded down $0.16 on Monday, reaching $3.81. 631,416 shares of the company’s stock were exchanged, compared to its average volume of 1,763,856. The business has a 50 day moving average price of $4.75 and a two-hundred day moving average price of $4.74. Phunware has a 12 month low of $2.85 and a 12 month high of $21.72. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. Phunware had a negative return on equity of 244.22% and a negative net margin of 867.61%. The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.31 million. During the same quarter in the prior year, the business posted ($2.50) EPS. Research analysts expect that Phunware will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Rahul Mewawalla sold 29,595 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $5.15, for a total transaction of $152,414.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Phunware

A hedge fund recently raised its stake in Phunware stock. Geode Capital Management LLC boosted its holdings in shares of Phunware, Inc. (NASDAQ:PHUN) by 36.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,767 shares of the company’s stock after acquiring an additional 30,507 shares during the period. Geode Capital Management LLC owned approximately 1.00% of Phunware worth $389,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.