Phunware (NASDAQ:PHUN) Short Interest Down 14.6% in January

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

Analysts Set New Price Targets

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

Phunware Trading Down 4.0%

NASDAQ:PHUN opened at $1.69 on Tuesday. The stock has a 50-day moving average price of $1.96 and a 200 day moving average price of $2.42. The stock has a market capitalization of $34.12 million, a P/E ratio of -3.25 and a beta of 2.49. Phunware has a 12-month low of $1.68 and a 12-month high of $4.04.

Phunware (NASDAQ:PHUN) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.53 million. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. On average, research analysts predict that Phunware will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PHUN. Virtu Financial LLC purchased a new position in shares of Phunware during the third quarter valued at about $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 Phunware in the 2nd quarter worth approximately $39,000. Bank of America Corp DE raised its holdings in shares of Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after acquiring an additional 30,304 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Phunware during the 3rd quarter valued at approximately $138,000. Institutional investors own 7.57% of the company’s stock.

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.