Phunware, Inc. (NASDAQ:PHUN) Short Interest Down 15.7% in February

Phunware, Inc. (NASDAQ:PHUN) saw a significant drop in short interest in 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. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is currently 1.4 days. Approximately 9.9% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research analysts have recently commented on PHUN shares. Ascendiant Capital Markets reduced 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. HC Wainwright cut shares of 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 research report on Tuesday, November 12th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Soviero Asset Management LP bought a new stake in shares of Phunware during the 4th quarter valued at about $520,000. Two Sigma Investments LP acquired a new position in Phunware in the fourth quarter valued at approximately $392,000. Millennium Management LLC bought a new position in shares of Phunware during the fourth quarter valued at approximately $57,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Phunware during the 4th quarter worth approximately $85,000. Finally, Northern Trust Corp lifted its holdings in shares of Phunware by 285.4% in the 4th quarter. Northern Trust Corp now owns 45,809 shares of the company’s stock worth $238,000 after purchasing an additional 33,922 shares during the last quarter. Institutional investors own 7.57% of the company’s stock.

Phunware Stock Down 3.6 %

NASDAQ PHUN traded down $0.11 during trading hours on Thursday, reaching $2.93. 185,132 shares of the company traded hands, 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 50 day moving average of $4.37 and a two-hundred day moving average of $4.63. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02.

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.