Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla Sells 29,595 Shares

Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla sold 29,595 shares of the business’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 transaction of $152,414.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Phunware Price Performance

PHUN traded down $0.32 during midday trading on Tuesday, hitting $4.38. The stock had a trading volume of 1,433,460 shares, compared to its average volume of 3,320,922. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.02. Phunware, Inc. has a 1 year low of $2.85 and a 1 year high of $24.49. The business has a fifty day moving average of $5.54 and a 200 day moving average of $5.16.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PHUN. Ascendiant Capital Markets lowered their price objective on shares of Phunware from $20.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. HC Wainwright cut Phunware from a “buy” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $6.00 in a research note on Tuesday, November 12th.

Institutional Trading of Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new stake in shares of Phunware, Inc. (NASDAQ:PHUN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned 0.12% of Phunware as of its most recent SEC filing. Hedge funds and other institutional investors own 7.57% of the company’s stock.

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.