Phunware (NASDAQ:PHUN) Trading Up 2.4% – Still a Buy?

Phunware (NASDAQ:PHUN) was up 2.4% during mid-day trading on Tuesday . The stock traded as high as $1.74 and last traded at $1.71. Approximately 210,082 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 209,038 shares. The stock had previously closed at $1.67.

Wall Street Analyst Weigh In

Several analysts have recently commented on PHUN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phunware in a report on Monday, December 29th. HC Wainwright decreased their price target on Phunware from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.33.

Phunware Price Performance

The business’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $2.28. The stock has a market capitalization of $36.95 million, a PE ratio of -3.52 and a beta of 2.62.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of Phunware in the 3rd quarter valued at $303,000. Cantor Fitzgerald L. P. purchased a new position in shares of Phunware during the third quarter worth $248,000. Bridgeway Capital Management LLC acquired a new position in Phunware during the third quarter valued at $138,000. XTX Topco Ltd boosted its holdings in Phunware by 177.6% in the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock valued at $95,000 after purchasing an additional 32,812 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock worth $84,000 after purchasing an additional 30,304 shares during the period. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

About Phunware

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.