Phunware (NASDAQ:PHUN) Stock Price Up 4.2%

Phunware, Inc. (NASDAQ:PHUN) shares traded up 4.2% during trading on Tuesday . The stock traded as high as $3.07 and last traded at $3.00. 249,959 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,822,995 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright lowered their target price on Phunware from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Ascendiant Capital Markets lowered their price objective on Phunware from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

Phunware Stock Up 7.9 %

The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $3.71 and its 200-day moving average price is $5.81.

Phunware (NASDAQ:PHUN) last released its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05. The company had revenue of $1.01 million during the quarter, compared to the consensus estimate of $1.14 million. During the same period last year, the firm posted ($3.00) earnings per share. Sell-side analysts predict that Phunware, Inc. will post -1.32 EPS for the current year.

Insider Activity at Phunware

In related news, CEO Michael Snavely sold 6,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $5.67, for a total transaction of $34,020.00. Following the transaction, the chief executive officer now owns 19,143 shares in the company, valued at $108,540.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Phunware stock. Virtu Financial LLC bought a new position in Phunware, Inc. (NASDAQ:PHUN) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 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 filing with the SEC. 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.