Saturday, February 27, 2021

Phunware Inc. [PHUN] Stock trading around $1.47 per share: What’s Next?

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Phunware Inc. [NASDAQ: PHUN] stock went on a downward path that fall over -1.34% on Thursday, amounting to a one-week price decrease of less than -11.45%. The company report on August 13, 2020 that Phunware Announces Co-Sell Partnership with Tech Data to Provide its Channel Partners and Customers Mobile Solutions for Digital Transformation.

Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today a co-sell partnership with Clearwater, Florida-based Tech Data, one of the world’s largest end-to-end technology distributors specializing in information technology products and services.

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Tech Data offers a wide range of technical and business support services, including certification, training, instruction and support for its reseller customers, and helps to configure, install and finance technology purchases.

Over the last 12 months, PHUN stock rose by 5.00%. The one-year Phunware Inc. stock forecast points to a potential upside of 46.55. The average equity rating for PHUN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $62.09 million, with 40.10 million shares outstanding and 35.39 million shares in the current float. Compared to the average trading volume of 6.13M shares, PHUN stock reached a trading volume of 2067755 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Phunware Inc. [PHUN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PHUN shares is $2.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PHUN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.18, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 3.76. The Price to Book ratio for the last quarter was 49.00, with the Price to Cash per share for the same quarter was set at 0.02.

PHUN Stock Performance Analysis:

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.45. With this latest performance, PHUN shares gained by 2.08% in over the last four-week period, additionally plugging by 66.52% over the last 6 months – not to mention a rise of 5.00% 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 44.26, with the RSI for the last a single of trading hit 42.26, and the three-weeks RSI is set at 51.57 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.3846, while it was recorded at 1.5760 for the last single week of trading, and 1.1112 for the last 200 days.

Insight into Phunware Inc. 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 Position Details

There are presently around $10 million, or 20.50% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: POLARIS VENTURE MANAGEMENT CO. V, L.L.C. with ownership of 2,214,092, which is approximately New 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 $2.17 million in PHUN stocks shares; and VANGUARD GROUP INC, currently with $0.82 million in PHUN stock with ownership of nearly -14.945% of the company’s market capitalization.

15 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 2,491,163 shares. Additionally, 26 investors decreased positions by around 3,178,769 shares, while 7 investors held positions by with 910,575 shares. The mentioned changes placed institutional holdings at 6,580,507 shares, according to the latest SEC report filing. PHUN stock had 7 new institutional investments in for a total of 2,343,267 shares, while 13 institutional investors sold positions of 1,152,499 shares during the same period.

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