Phunware Inc. [NASDAQ: PHUN] closed the trading session at $1.44 on 07/15/20. The day’s price range saw the stock hit a low of $1.38, while the highest price level was $1.80. Recently, the company on July 15 reported that it has initiated the refinancing transaction based on favorable terms for the company to issue its senior convertible notes.
Phunware will issue the senior notes at an initial principal amount of $4.32 million with a maturity date due December 31, 2021. The following senior notes issuance by Phunware is made in accordance to the Securities Purchase Agreement signed among the company and institutional investor. The company expects to receive around $1.75 million net proceeds from the note offerings after its closure and paying off the note issued to the Buyer. Moreover, the company issued a warrant to the buyers for the purchase of common stock with a 30% coverage of the principal amount of the Notes exercisable at a per-share price of $4 in cash.
The stocks have a year to date performance of 21.01 percent and weekly performance of 17.07 percent. The stock has been moved at 27.43 percent over the last six months. The stock has performed 26.32 percent around the most recent 30 days and changed 118.18 percent over the most recent 3-months.
If compared to the average trading volume of 4.13M shares, PHUN reached to a volume of 42558708 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Phunware Inc. [PHUN]:
Ascendiant Capital Markets have made an estimate for Phunware Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 16, 2020.
The Average True Range (ATR) for Phunware Inc. is set at 0.15, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 3.58. The Price to Book ratio for the last quarter was 48.00, with the Price to Cash per share for the same quarter was set at 0.02.
PHUN stock trade performance evaluation
Phunware Inc. [PHUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.07. With this latest performance, PHUN shares gained by 26.32% in over the last four-week period, additionally plugging by 27.43% over the last 6 months – not to mention a drop of -39.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PHUN stock in for the last two-week period is set at 63.53, with the RSI for the last a single of trading hit 69.23, and the three-weeks RSI is set at 59.60 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.1492, while it was recorded at 1.2940 for the last single week of trading, and 1.1087 for the last 200 days.
Phunware Inc. [PHUN]: An insightful look at the core fundamentals
Phunware Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
Phunware Inc. [PHUN]: Insider Ownership positions
There are presently around $8 million, or 24.90% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: TCTC HOLDINGS, LLC with ownership of 1,550,227, which is approximately 0% of the company’s market cap and around 6.20% of the total institutional ownership; BLACKROCK INC., holding 1,476,656 shares of the stock with an approximate value of $1.91 million in PHUN stocks shares; and FIRSTHAND CAPITAL MANAGEMENT, INC., currently with $0.88 million in PHUN stock with ownership of nearly 0% of the company’s market capitalization.
17 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 306,588 shares. Additionally, 19 investors decreased positions by around 4,425,283 shares, while 13 investors held positions by with 1,578,081 shares. The mentioned changes placed institutional holdings at 6,309,952 shares, according to the latest SEC report filing. PHUN stock had 9 new institutional investments in for a total of 196,794 shares, while 8 institutional investors sold positions of 4,101,514 shares during the same period.