Phunware, Inc. (NASDAQ:PHUN) Sees Large Decrease in Short Interest

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

Phunware Price Performance

PHUN traded up $0.11 during trading on Friday, reaching $3.06. 340,642 shares of the stock were exchanged, compared to its average volume of 2,362,057. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $4.62. Phunware has a 1 year low of $2.70 and a 1 year high of $14.60.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Phunware

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Phunware in the 4th quarter worth about $57,000. Schonfeld Strategic Advisors LLC acquired a new stake in Phunware during the fourth quarter valued at approximately $85,000. Dimensional Fund Advisors LP bought a new stake in shares of Phunware in the 4th quarter valued at approximately $89,000. Marshall Wace LLP acquired a new stake in shares of Phunware during the 4th quarter valued at approximately $122,000. Finally, Geode Capital Management LLC lifted its stake in Phunware by 36.6% during the third quarter. Geode Capital Management LLC now owns 113,767 shares of the company’s stock worth $389,000 after purchasing an additional 30,507 shares during the last quarter. 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.