Phunware (NASDAQ:PHUN) Short Interest Update

Phunware (NASDAQ:PHUN) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 782,925 shares, a drop of 14.6% from the December 31st total of 916,345 shares. Based on an average daily volume of 135,488 shares, the days-to-cover ratio is currently 5.8 days. Approximately 3.9% of the company’s stock are short sold. Approximately 3.9% of the company’s stock are short sold. Based on an average daily volume of 135,488 shares, the days-to-cover ratio is currently 5.8 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Phunware in a research report on Monday, December 29th. HC Wainwright lowered their target price on shares of Phunware from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Phunware presently has an average rating of “Hold” and a consensus target price of $6.33.

Institutional Investors Weigh In On Phunware

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Phunware in the third quarter valued at approximately $28,000. Jane Street Group LLC raised its stake in shares of Phunware by 2,255.3% in the first quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock valued at $35,000 after buying an additional 12,359 shares during the period. R Squared Ltd bought a new stake in shares of Phunware in the second quarter valued at $39,000. Bank of America Corp DE lifted its position in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after buying an additional 30,304 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Phunware during the 3rd quarter worth $138,000. Hedge funds and other institutional investors own 7.57% of the company’s stock.

Phunware Price Performance

Shares of NASDAQ:PHUN opened at $1.60 on Wednesday. Phunware has a 1 year low of $1.58 and a 1 year high of $4.04. The company has a market capitalization of $32.30 million, a PE ratio of -3.08 and a beta of 2.62. The business has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $2.41.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.53 million. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. Sell-side analysts anticipate that Phunware will post -0.97 earnings per share for the current 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.