Rahul Mewawalla Sells 29,595 Shares of Phunware, Inc. (NASDAQ:PHUN) Stock

Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla sold 29,595 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $5.15, for a total transaction of $152,414.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Phunware Stock Performance

Shares of NASDAQ:PHUN opened at $4.41 on Friday. The company has a 50 day moving average price of $5.58 and a two-hundred day moving average price of $5.15. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.02. Phunware, Inc. has a 52 week low of $2.85 and a 52 week high of $24.49.

Institutional Trading of Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC bought a new position in shares of Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned approximately 0.12% of Phunware at the end of the most recent quarter. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHUN has been the subject of several recent research reports. Ascendiant Capital Markets dropped their target price on shares of Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. HC Wainwright lowered Phunware from a “buy” rating to a “neutral” rating and cut their target price for the company from $9.00 to $6.00 in a research note on Tuesday, November 12th.

About Phunware

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.