Phunware, Inc. (NASDAQ:PHUN) Short Interest Update

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,760,000 shares, a growth of 23.1% from the October 31st total of 1,430,000 shares. Based on an average trading volume of 6,660,000 shares, the short-interest ratio is presently 0.3 days. Currently, 8.9% of the company’s stock are sold short.

Analyst Ratings Changes

A number of research analysts have weighed in on PHUN shares. HC Wainwright lowered shares of Phunware from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $6.00 in a research note on Tuesday, November 12th. Ascendiant Capital Markets lowered their target price on shares of Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, November 12th.

Phunware Trading Up 5.2 %

PHUN stock opened at $4.64 on Monday. Phunware has a 1-year low of $2.85 and a 1-year high of $24.49. The stock’s fifty day simple moving average is $5.62 and its two-hundred day simple moving average is $5.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80.

Insider Buying and Selling at Phunware

In related news, Director Rahul Mewawalla sold 29,595 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new position in Phunware, Inc. (NASDAQ:PHUN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned 0.12% of Phunware at the end of the most recent quarter. Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.