Phunware, Inc. (NASDAQ:PHUN) Sees Significant Decline in Short Interest

Phunware, Inc. (NASDAQ:PHUN - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 1,980,000 shares, a drop of 15.7% from the January 31st total of 2,350,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is currently 1.4 days. Currently, 9.9% of the shares of the company are sold short.

Phunware Stock Up 6.1 %

Shares of Phunware stock traded up $0.18 during trading on Friday, hitting $3.13. 415,565 shares of the company's stock were exchanged, compared to its average volume of 2,356,389. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $4.27 and a 200-day simple moving average of $4.63. Phunware has a 52-week low of $2.70 and a 52-week high of $14.60.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Ascendiant Capital Markets decreased their price target 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. HC Wainwright cut shares of Phunware from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $9.00 to $6.00 in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PHUN. Millennium Management LLC purchased a new position in shares of Phunware during the fourth quarter worth $57,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Phunware during the fourth quarter worth $85,000. Dimensional Fund Advisors LP purchased a new position in shares of Phunware during the fourth quarter worth $89,000. Marshall Wace LLP purchased a new position in shares of Phunware during the fourth quarter worth $122,000. Finally, Northern Trust Corp raised its holdings in shares of Phunware by 285.4% during the fourth quarter. Northern Trust Corp now owns 45,809 shares of the company's stock worth $238,000 after purchasing an additional 33,922 shares during the last quarter. Hedge funds and other institutional investors own 7.57% of the company's stock.

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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.