Phunware, Inc. (NASDAQ:PHUN) Short Interest Up 72.1% in June

Phunware, Inc. (NASDAQ:PHUN) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,050,000 shares, an increase of 72.1% from the June 15th total of 610,200 shares. Currently, 13.3% of the shares of the stock are short sold. Based on an average trading volume of 355,400 shares, the days-to-cover ratio is presently 3.0 days.

Phunware Price Performance

Phunware stock traded up $0.02 during trading hours on Friday, hitting $5.83. The stock had a trading volume of 334,950 shares, compared to its average volume of 2,260,792. Phunware has a 1-year low of $3.50 and a 1-year high of $24.56. The stock’s fifty day moving average is $6.16 and its two-hundred day moving average is $8.61. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.06.

Phunware (NASDAQ:PHUN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.05. The business had revenue of $0.92 million during the quarter, compared to analyst estimates of $1.15 million. During the same period in the previous year, the company posted ($3.50) earnings per share. As a group, analysts anticipate that Phunware will post -1.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHUN. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Phunware in a report on Monday, May 20th. Ascendiant Capital Markets dropped their target price on shares of Phunware from $75.00 to $25.00 and set a “buy” rating for the company in a report on Monday, April 1st.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new position in Phunware, Inc. (NASDAQ:PHUN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned about 0.12% of Phunware as of its most recent SEC filing. Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.