Phunware (NASDAQ:PHUN) Trading Up 13.4% – Still a Buy?

Phunware, Inc. (NASDAQ:PHUN) was up 13.4% during mid-day trading on Monday . The stock traded as high as $4.41 and last traded at $4.41. Approximately 1,465,942 shares were traded during mid-day 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 Analysts Forecast Growth

A number of brokerages recently commented on PHUN. Ascendiant Capital Markets dropped their price target on shares of Phunware from $20.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. HC Wainwright lowered Phunware from a “buy” rating to a “neutral” rating and cut their price target for the stock from $9.00 to $6.00 in a report on Tuesday, November 12th.

Phunware Trading Down 2.5 %

The business’s fifty 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 Buying and Selling at Phunware

In other news, Director Rahul Mewawalla sold 29,595 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was 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 this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of Phunware

A hedge fund recently raised its stake in Phunware stock. Geode Capital Management LLC boosted its position in Phunware, Inc. (NASDAQ:PHUN) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,767 shares of the company’s stock after buying 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.