Investors Buy Large Volume of Put Options on Phunware (NASDAQ:PHUN)

Phunware (NASDAQ:PHUN) saw some unusual options trading on Monday. Stock investors bought 2,845 put options on the company. This represents an increase of 2,864% compared to the typical volume of 96 put options.

Analyst Ratings Changes

Several analysts recently issued reports on the company. HC Wainwright cut their price target on Phunware from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.33.

Hedge Funds Weigh In On Phunware

Several large investors have recently bought and sold shares of PHUN. Charles Schwab Investment Management Inc. acquired a new stake in shares of Phunware in the 1st quarter worth approximately $30,000. Jane Street Group LLC raised its holdings in Phunware by 2,255.3% during the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock worth $35,000 after purchasing an additional 12,359 shares in the last quarter. R Squared Ltd acquired a new stake in Phunware in the second quarter worth approximately $39,000. Bridgeway Capital Management LLC bought a new position in Phunware during the 3rd quarter valued at $138,000. Finally, Virtu Financial LLC acquired a new position in shares of Phunware during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 7.57% of the company’s stock.

Phunware Price Performance

Shares of PHUN stock opened at $1.99 on Tuesday. Phunware has a 12-month low of $1.77 and a 12-month high of $6.29. The firm has a market capitalization of $40.18 million, a price-to-earnings ratio of -3.83 and a beta of 2.65. The business has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.70.

Phunware (NASDAQ:PHUN) last announced its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.53 million. Phunware had a negative return on equity of 10.45% and a negative net margin of 505.26%. On average, equities analysts anticipate that Phunware will post -0.97 EPS for the current fiscal year.

Phunware Company Profile

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.