Phunware, Inc. (NASDAQ:PHUN) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 3,880,000 shares, a growth of 36.6% from the November 15th total of 2,840,000 shares. Based on an average trading volume of 33,200,000 shares, the days-to-cover ratio is currently 0.1 days.
PHUN has been the subject of several analyst reports. HC Wainwright raised their price target on Phunware from $2.00 to $5.50 and gave the company a “buy” rating in a report on Monday, November 15th. TheStreet raised Phunware from a “d” rating to a “c-” rating in a research report on Friday, December 3rd. Zacks Investment Research raised Phunware from a “sell” rating to a “hold” rating and set a $4.50 target price on the stock in a research report on Wednesday, November 17th. Finally, Roth Capital reissued a “buy” rating and issued a $1.75 target price on shares of Phunware in a research report on Wednesday, September 1st.
Shares of PHUN opened at $3.06 on Friday. The business’s 50 day moving average is $2.85 and its 200 day moving average is $1.76. The company has a market capitalization of $294.56 million, a PE ratio of -7.12 and a beta of 13.28. Phunware has a 12-month low of $0.82 and a 12-month high of $24.04. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.17.
Phunware (NASDAQ:PHUN) last issued its earnings results on Thursday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. Phunware had a negative return on equity of 248.37% and a negative net margin of 363.83%. The company had revenue of $2.16 million for the quarter, compared to the consensus estimate of $1.93 million. During the same quarter last year, the company earned ($0.10) EPS. Equities research analysts predict that Phunware will post -0.24 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in shares of Phunware by 100.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 20,000 shares of the company’s stock valued at $28,000 after purchasing an additional 10,000 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Phunware by 81.9% during the 2nd quarter. Citadel Advisors LLC now owns 46,209 shares of the company’s stock valued at $64,000 after purchasing an additional 20,812 shares during the last quarter. Independent Wealth Network Inc. bought a new position in shares of Phunware during the 3rd quarter valued at approximately $122,000. Commonwealth Equity Services LLC purchased a new position in Phunware during the 3rd quarter valued at $31,000. Finally, Morgan Stanley purchased a new position in Phunware during the 1st quarter valued at $86,000. 7.46% of the stock is currently owned by institutional investors and hedge funds.
Phunware Company Profile
Phunware, Inc engages in the development of a Multiscreen-as-a-Service platform, an enterprise cloud platform for mobile. It provides companies the products, solutions, data, and services necessary to engage, manage, and monetize mobile application portfolios and audiences at scale. Its platform also allows for the licensing and creation of category-defining mobile experiences for brands and their application users worldwide.