Phunware, Inc. (NASDAQ:PHUN) Sees Large Decline in Short Interest

Phunware, Inc. (NASDAQ:PHUN) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 977,100 shares, a decrease of 15.0% from the March 31st total of 1,150,000 shares. Based on an average daily volume of 3,060,000 shares, the short-interest ratio is presently 0.3 days.

Phunware Price Performance

PHUN stock traded down $0.16 during midday trading on Tuesday, reaching $6.60. 331,437 shares of the stock were exchanged, compared to its average volume of 3,414,557. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $53.00 million, a PE ratio of -0.37 and a beta of 2.43. Phunware has a 52 week low of $3.50 and a 52 week high of $33.51. The company has a fifty day moving average price of $8.86 and a 200 day moving average price of $8.90.

Wall Street Analyst Weigh In

Several research firms have commented on PHUN. Ascendiant Capital Markets decreased their target price on shares of Phunware from $75.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, April 1st. HC Wainwright lifted their price objective on shares of Phunware to $12.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price (down previously from $25.00) on shares of Phunware in a report on Wednesday, March 13th.

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.