Phunware (NASDAQ:PHUN) Sees Significant Drop in Short Interest

Phunware (NASDAQ:PHUN) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 782,925 shares, a decline of 14.6% from the December 31st total of 916,345 shares. Based on an average daily trading volume, of 135,488 shares, the short-interest ratio is presently 5.8 days. Approximately 3.9% of the shares of the company are short sold. Approximately 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 135,488 shares, the short-interest ratio is presently 5.8 days.

Phunware Price Performance

Shares of NASDAQ PHUN opened at $1.66 on Thursday. The stock has a market capitalization of $33.52 million, a PE ratio of -3.19 and a beta of 2.62. Phunware has a one year low of $1.58 and a one year high of $4.04. The business’s fifty day moving average price is $1.94 and its 200-day moving average price is $2.40.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. The company had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $0.53 million. As a group, equities analysts expect that Phunware will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PHUN has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. HC Wainwright decreased their target price on Phunware from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.33.

Hedge Funds Weigh In On Phunware

Several hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Phunware during the 3rd quarter valued at $28,000. Jane Street Group LLC grew its holdings in Phunware by 2,255.3% during the 1st quarter. Jane Street Group LLC now owns 11,811 shares of the company’s stock valued at $35,000 after buying an additional 12,359 shares in the last quarter. R Squared Ltd bought a new stake in shares of Phunware during the second quarter valued at about $39,000. Bank of America Corp DE lifted its holdings in shares of Phunware by 13,900.9% in the third quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after buying an additional 30,304 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Phunware in the third quarter valued at approximately $138,000. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

About Phunware

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.