Phunware, Inc. (NASDAQ:PHUN) Short Interest Update

Phunware, Inc. (NASDAQ:PHUN - Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,450,000 shares, an increase of 21.9% from the December 31st total of 2,010,000 shares. Based on an average trading volume of 6,340,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 12.2% of the shares of the company are sold short.

Phunware Price Performance

PHUN stock traded down $0.09 on Friday, reaching $3.79. 434,344 shares of the company were exchanged, compared to its average volume of 1,551,895. Phunware has a 12 month low of $2.85 and a 12 month high of $19.01. The stock's fifty day moving average price is $4.70 and its 200 day moving average price is $4.71. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02.

Phunware (NASDAQ:PHUN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. Phunware had a negative net margin of 867.61% and a negative return on equity of 244.22%. The firm had revenue of $0.67 million for the quarter, compared to analyst estimates of $1.31 million. During the same period in the previous year, the business earned ($2.50) earnings per share. As a group, equities analysts anticipate that Phunware will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rahul Mewawalla sold 29,595 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phunware stock. Geode Capital Management LLC increased its holdings in shares of Phunware, Inc. (NASDAQ:PHUN - Free Report) by 36.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,767 shares of the company's stock after purchasing an additional 30,507 shares during the quarter. Geode Capital Management LLC owned approximately 1.00% of Phunware worth $389,000 as of its most recent SEC filing. 7.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PHUN. HC Wainwright downgraded shares of Phunware from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $9.00 to $6.00 in a research report on Tuesday, November 12th. Ascendiant Capital Markets dropped 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 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.