Phunware, Inc. (NASDAQ:PHUN) Short Interest Up 74.7% in October

by · The Markets Daily

Phunware, Inc. (NASDAQ:PHUN – Get Free Report) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 1,270,000 shares, an increase of 74.7% from the September 30th total of 726,900 shares. Approximately 11.3% of the company’s shares are short sold. Based on an average daily volume of 3,730,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Phunware stock. Murchinson Ltd. acquired a new stake in shares of Phunware, Inc. (NASDAQ:PHUN – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $90,000. Murchinson Ltd. owned about 0.12% of Phunware at the end of the most recent reporting period. 7.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PHUN shares. HC Wainwright upped their target price on shares of Phunware from $7.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Ascendiant Capital Markets reduced their target price on shares of Phunware from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd.

Get Our Latest Report on PHUN

Phunware Trading Up 25.0 %

Shares of NASDAQ PHUN traded up $2.12 on Friday, reaching $10.60. 30,681,233 shares of the company traded hands, compared to its average volume of 2,871,126. Phunware has a fifty-two week low of $2.85 and a fifty-two week high of $24.49. The company has a 50 day moving average of $4.42 and a 200 day moving average of $5.28. 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 – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The company had revenue of $1.01 million for the quarter, compared to analyst estimates of $1.14 million. During the same period in the prior year, the company earned ($3.00) EPS. On average, sell-side analysts expect that Phunware will post -1.21 earnings per share for the current fiscal year.

About Phunware

(Get Free Report)

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.

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