Phunware (NASDAQ:PHUN) Trading Up 13.4% – Time to Buy?

Shares of Phunware, Inc. (NASDAQ:PHUN) rose 13.4% on Monday . The stock traded as high as $4.41 and last traded at $4.41. Approximately 1,465,942 shares were traded during trading, a decline of 54% from the average daily volume of 3,174,332 shares. The stock had previously closed at $3.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on PHUN. Ascendiant Capital Markets decreased their price objective on Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. HC Wainwright downgraded shares of Phunware from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $6.00 in a research note on Tuesday, November 12th.

Phunware Stock Performance

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 business’s 50-day moving average is $5.87 and its 200 day moving average is $4.85.

Insider Transactions at Phunware

In other news, Director Rahul Mewawalla sold 29,595 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Phunware stock. Geode Capital Management LLC raised its stake in shares of Phunware, Inc. (NASDAQ:PHUN) by 36.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,767 shares of the company’s stock after purchasing an additional 30,507 shares during the quarter. Geode Capital Management LLC owned approximately 1.00% of Phunware worth $389,000 at the end of the most recent reporting period. 7.57% of the stock is owned by institutional investors and hedge funds.

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.