Short Interest in Phunware, Inc. (NASDAQ:PHUN) Rises By 23.1%

Phunware, Inc. (NASDAQ:PHUN) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,760,000 shares, a growth of 23.1% from the October 31st total of 1,430,000 shares. Currently, 8.9% of the shares of the stock are short sold. Based on an average daily volume of 6,660,000 shares, the days-to-cover ratio is currently 0.3 days.

Phunware Stock Up 5.2 %

PHUN traded up $0.23 during trading on Monday, reaching $4.64. 1,067,960 shares of the stock were exchanged, compared to its average volume of 3,300,450. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 3.80. The stock’s 50 day moving average price is $5.62 and its two-hundred day moving average price is $5.11. Phunware has a twelve month low of $2.85 and a twelve month high of $24.49.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Rahul Mewawalla sold 29,595 shares of Phunware stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new stake in Phunware, Inc. (NASDAQ:PHUN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned 0.12% of Phunware at the end of the most recent reporting period. 7.57% of the stock is owned by institutional investors.

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.