Short Interest in Phunware, Inc. (NASDAQ:PHUN) Grows By 241.1%

Phunware, Inc. (NASDAQ:PHUNGet Free Report) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 40,460,000 shares, an increase of 241.1% from the January 15th total of 11,860,000 shares. Based on an average daily trading volume, of 105,640,000 shares, the short-interest ratio is currently 0.4 days.

Phunware Stock Performance

Shares of Phunware stock traded down $0.02 during trading on Monday, hitting $0.32. 47,871,891 shares of the company’s stock were exchanged, compared to its average volume of 232,173,266. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.25 and a current ratio of 0.30. The business has a 50-day simple moving average of $0.18 and a 200-day simple moving average of $0.21. Phunware has a 52-week low of $0.07 and a 52-week high of $1.11. The stock has a market capitalization of $89.70 million, a price-to-earnings ratio of -0.91 and a beta of 2.43.

Phunware (NASDAQ:PHUNGet Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $2.79 million for the quarter, compared to analyst estimates of $3.74 million. Phunware had a negative net margin of 257.36% and a negative return on equity of 149.96%. On average, research analysts forecast that Phunware will post -0.23 EPS for the current year.

Institutional Trading of Phunware

Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new position in shares of Phunware in the first quarter worth about $29,000. Cetera Advisor Networks LLC purchased a new position in shares of Phunware in the first quarter worth about $31,000. Vident Investment Advisory LLC purchased a new position in shares of Phunware in the first quarter worth about $36,000. Advisor Group Holdings Inc. lifted its stake in shares of Phunware by 90.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 58,850 shares of the company’s stock worth $45,000 after buying an additional 27,875 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Phunware by 189.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 46,924 shares of the company’s stock worth $51,000 after buying an additional 30,700 shares in the last quarter. Institutional investors and hedge funds own 7.57% of the company’s stock.

Phunware Company Profile

(Get Free Report)

Phunware, Inc, together with its subsidiaries, offers 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 cloud-based mobile software that licenses in software development kits (SDKs) form utilized inside mobile applications, such as analytics that provides 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; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services that include mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.

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