Phunware (NASDAQ:PHUN) Trading Up 5.9%

Phunware, Inc. (NASDAQ:PHUN – Get Rating)’s stock price rose 5.9% during trading on Friday . The company traded as high as $1.04 and last traded at $1.04. Approximately 553,620 shares were traded during trading, a decline of 56% from the average daily volume of 1,248,655 shares. The stock had previously closed at $0.98.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets decreased their price target on shares of Phunware to $5.00 in a research note on Wednesday, November 16th.

Phunware Trading Up 5.9 %

The firm has a market cap of $106.73 million, a price-to-earnings ratio of -1.30 and a beta of 10.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.79. The company’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.23.

Phunware (NASDAQ:PHUN – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $4.76 million for the quarter, compared to analyst estimates of $5.95 million. Phunware had a negative net margin of 320.30% and a negative return on equity of 108.33%. As a group, research analysts expect that Phunware, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Transactions at Phunware

In related news, CEO Alan S. Knitowski sold 115,170 shares of the firm’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $0.96, for a total transaction of $110,563.20. Following the completion of the sale, the chief executive officer now directly owns 1,138,452 shares of the company’s stock, valued at approximately $1,092,913.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Alan S. Knitowski sold 115,170 shares of Phunware stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $0.96, for a total value of $110,563.20. Following the sale, the chief executive officer now directly owns 1,138,452 shares in the company, valued at approximately $1,092,913.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric Manlunas sold 27,173 shares of Phunware stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $3.13, for a total transaction of $85,051.49. Following the completion of the sale, the director now owns 75,188 shares in the company, valued at $235,338.44. The disclosure for this sale can be found here. Insiders sold 178,423 shares of company stock valued at $232,185 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Phunware

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in shares of Phunware in the 1st quarter worth approximately $29,000. Cetera Advisor Networks LLC acquired a new stake in shares of Phunware during the first quarter worth approximately $31,000. Vident Investment Advisory LLC acquired a new stake in shares of Phunware during the first quarter worth approximately $36,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phunware by 189.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 46,924 shares of the company’s stock worth $51,000 after purchasing an additional 30,700 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Phunware by 172.1% during the second quarter. UBS Group AG now owns 88,436 shares of the company’s stock worth $95,000 after purchasing an additional 55,936 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Phunware Company Profile

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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.