Phunware, Inc. (NASDAQ:PHUN) Sees Significant Decline in Short Interest

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 977,100 shares, a decrease of 15.0% from the March 31st total of 1,150,000 shares. Based on an average trading volume of 3,060,000 shares, the short-interest ratio is currently 0.3 days.

Phunware Trading Up 3.9 %

NASDAQ:PHUN opened at $6.38 on Monday. Phunware has a 52-week low of $3.50 and a 52-week high of $33.51. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $8.91. The company has a market capitalization of $51.23 million, a PE ratio of -0.34 and a beta of 2.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PHUN. Roth Mkm reiterated a “buy” rating and issued a $20.00 price target (down previously from $25.00) on shares of Phunware in a report on Wednesday, March 13th. HC Wainwright lifted their price target on shares of Phunware to $12.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Ascendiant Capital Markets decreased their price target on Phunware from $75.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, April 1st.

About Phunware

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.