Phunware (NASDAQ:PHUN) Shares Up 4.2%

Phunware, Inc. (NASDAQ:PHUN) shares traded up 4.2% during mid-day trading on Tuesday . The stock traded as high as $3.07 and last traded at $3.00. 249,959 shares changed hands during trading, a decline of 86% from the average session volume of 1,822,995 shares. The stock had previously closed at $2.88.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PHUN. HC Wainwright decreased their target price on Phunware from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Ascendiant Capital Markets decreased their price objective on Phunware from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd.

Phunware Price Performance

The business has a fifty day moving average price of $3.75 and a two-hundred day moving average price of $5.83. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.06.

Phunware (NASDAQ:PHUN) last announced its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. The company had revenue of $1.01 million for the quarter, compared to analysts’ expectations of $1.14 million. During the same period last year, the business earned ($3.00) EPS. As a group, equities analysts expect that Phunware, Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael Snavely sold 6,000 shares of Phunware stock in a transaction on Friday, July 12th. The stock was sold at an average price of $5.67, for a total value of $34,020.00. Following the completion of the sale, the chief executive officer now directly owns 19,143 shares of the company’s stock, valued at $108,540.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Phunware stock. Murchinson Ltd. purchased a new position in shares of Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned approximately 0.12% of Phunware at the end of the most recent reporting period. 7.57% of the stock is currently owned by institutional investors and hedge funds.

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.