Phunware, Inc. (NASDAQ:PHUN) Short Interest Down 16.9% in June

Phunware, Inc. (NASDAQ:PHUN) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 610,200 shares, a decline of 16.9% from the May 31st total of 734,200 shares. Based on an average daily volume of 396,000 shares, the short-interest ratio is presently 1.5 days. Approximately 7.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHUN. Ascendiant Capital Markets decreased their price target on shares of Phunware from $75.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, April 1st. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Phunware in a research report on Monday, May 20th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price target (down from $25.00) on shares of Phunware in a research note on Wednesday, March 13th.

Hedge Funds Weigh In On Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC acquired a new stake in shares of Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned about 0.12% of Phunware at the end of the most recent reporting period. 7.57% of the stock is owned by institutional investors.

Phunware Price Performance

NASDAQ:PHUN traded down $0.81 during mid-day trading on Friday, hitting $5.49. 1,349,269 shares of the company’s stock were exchanged, compared to its average volume of 322,818. Phunware has a one year low of $3.50 and a one year high of $27.50. The business has a fifty day moving average price of $6.33 and a 200 day moving average price of $8.57. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.06.

Phunware (NASDAQ:PHUN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.05. Phunware had a negative return on equity of 403.47% and a negative net margin of 257.36%. The company had revenue of $0.92 million during the quarter, compared to analyst estimates of $1.15 million. During the same quarter last year, the company earned ($3.50) EPS. On average, sell-side analysts anticipate that Phunware will post -1.47 EPS for the current fiscal year.

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.