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

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a significant 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. Based on an average daily volume of 6,660,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 8.9% of the company’s stock are sold short.

Phunware Trading Up 5.2 %

Shares of PHUN opened at $4.64 on Monday. The firm’s 50 day moving average price is $5.62 and its two-hundred day moving average price is $5.11. 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 has a twelve month low of $2.85 and a twelve month high of $24.49.

Analyst Ratings Changes

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

Insider Buying and Selling at Phunware

In other Phunware news, Director Rahul Mewawalla sold 29,595 shares of Phunware stock in a transaction that occurred on Friday, November 22nd. The stock was 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 through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Phunware

An institutional investor recently bought a new position in Phunware stock. Virtu Financial LLC purchased a new stake in Phunware, Inc. (NASDAQ:PHUN) during the 1st quarter, according to its most recent 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 about 0.12% of Phunware at the end of the most recent quarter. Institutional investors own 7.57% of the company’s stock.

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.