Phunware, Inc. (NASDAQ:PHUN) Short Interest Down 15.7% in February

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

Phunware Trading Up 5.4 %

Shares of PHUN stock traded up $0.16 during midday trading on Wednesday, reaching $3.04. 371,525 shares of the company traded hands, compared to its average volume of 2,489,636. The firm’s 50 day simple moving average is $4.40 and its two-hundred day simple moving average is $4.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80. Phunware has a 1-year low of $2.70 and a 1-year high of $17.99.

Institutional Trading of Phunware

Several large investors have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Phunware in the 4th quarter worth about $57,000. Schonfeld Strategic Advisors LLC acquired a new position in Phunware during the fourth quarter worth about $85,000. Dimensional Fund Advisors LP purchased a new stake in shares of Phunware in the fourth quarter valued at about $89,000. Marshall Wace LLP acquired a new stake in shares of Phunware in the fourth quarter valued at approximately $122,000. Finally, Northern Trust Corp increased its stake in shares of Phunware by 285.4% during the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after purchasing an additional 33,922 shares in the last quarter. Institutional investors and hedge funds own 7.57% of the company’s stock.

Wall Street Analyst Weigh In

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