Phunware (NASDAQ:PHUN) Shares Up 13.4% – What’s Next?

Shares of Phunware, Inc. (NASDAQ:PHUN) rose 13.4% on Monday . The company traded as high as $4.41 and last traded at $4.41. Approximately 1,465,942 shares were traded during trading, a decline of 54% from the average daily volume of 3,174,332 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. HC Wainwright cut Phunware from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, November 12th. Ascendiant Capital Markets decreased their price objective on Phunware from $20.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Phunware Stock Performance

The stock’s 50-day moving average price is $5.85 and its 200-day moving average price is $4.84. 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 Transactions at Phunware

In other Phunware news, Director Rahul Mewawalla sold 29,595 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $5.15, for a total transaction of $152,414.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Phunware

An institutional investor recently raised its position in Phunware stock. Geode Capital Management LLC raised its position in Phunware, Inc. (NASDAQ:PHUN) by 36.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,767 shares of the company’s stock after buying an additional 30,507 shares during the quarter. Geode Capital Management LLC owned about 1.00% of Phunware worth $389,000 at the end of the most recent reporting period. 7.57% of the stock is currently owned by institutional investors.

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.