Phunware, Inc. (NASDAQ:PHUN) Short Interest Update

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

Phunware Stock Performance

Shares of PHUN stock traded down $0.11 during mid-day trading on Thursday, reaching $2.93. The stock had a trading volume of 185,132 shares, compared to its average volume of 2,386,104. Phunware has a 12-month low of $2.70 and a 12-month high of $14.60. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $4.37 and a 200 day simple moving average of $4.63.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PHUN. HC Wainwright cut Phunware from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $6.00 in a report on Tuesday, November 12th. Ascendiant Capital Markets lowered their target price on shares of 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Phunware by 87.9% during the fourth quarter. Geode Capital Management LLC now owns 213,777 shares of the company’s stock worth $1,112,000 after acquiring an additional 100,010 shares during the last quarter. Soviero Asset Management LP acquired a new stake in shares of Phunware in the fourth quarter worth $520,000. Two Sigma Investments LP purchased a new position in shares of Phunware in the 4th quarter valued at $392,000. Northern Trust Corp raised its stake in shares of Phunware by 285.4% in the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock valued at $238,000 after acquiring an additional 33,922 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Phunware during the 4th quarter valued at $122,000. Institutional investors and hedge funds 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.