Phunware (NASDAQ:PHUN) Stock Price Up 2.4% – What’s Next?

Phunware (NASDAQ:PHUN) rose 2.4% during mid-day trading on Tuesday . The stock traded as high as $1.74 and last traded at $1.71. 210,082 shares were traded during mid-day trading, an increase of 0% from the average daily volume of 209,038 shares. The stock had previously closed at $1.67.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HC Wainwright cut their price target on shares of 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 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.33.

Phunware Stock Up 2.4%

The company has a market cap of $34.52 million, a PE ratio of -3.29 and a beta of 2.62. The stock has a 50-day moving average of $1.86 and a 200-day moving average of $2.28.

Institutional Trading of Phunware

A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd increased its position in Phunware by 177.6% during the 4th quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after purchasing an additional 32,812 shares during the period. Cantor Fitzgerald L. P. raised its stake in Phunware by 38.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock valued at $231,000 after buying an additional 35,000 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Phunware by 98.2% in the 4th quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after purchasing an additional 14,134 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Phunware by 44.9% during the fourth quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock valued at $136,000 after buying an additional 22,784 shares during the last quarter. Finally, HRT Financial LP purchased a new position in shares of Phunware in the fourth quarter worth $25,000. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

About Phunware

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.