Phunware, Inc. (NASDAQ:PHUN) Short Interest Up 23.1% in November

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,760,000 shares, a growth of 23.1% from the October 31st total of 1,430,000 shares. Currently, 8.9% of the shares of the company are short sold. Based on an average daily volume of 6,660,000 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on PHUN. Ascendiant Capital Markets dropped their price target on shares of Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. HC Wainwright downgraded 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.

Phunware Stock Performance

Shares of PHUN stock traded up $0.23 during trading hours on Monday, hitting $4.64. 1,067,960 shares of the company’s stock traded hands, compared to its average volume of 3,300,450. The stock’s fifty day simple moving average is $5.62 and its two-hundred day simple moving average is $5.11. Phunware has a 12-month low of $2.85 and a 12-month high of $24.49. 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 Buying and Selling 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of Phunware

A hedge fund recently bought a new stake in Phunware stock. Virtu Financial LLC bought a new position in Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 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 quarter. 7.57% of the stock is owned by hedge funds and other institutional investors.

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.