Phunware Inc. [PHUN] moved down -1.63: Why It’s Important

Phunware Inc. [NASDAQ: PHUN] loss -1.63% on the last trading session, reaching $0.78 price per share at the time. The company report on October 19, 2020 that Phunware Wins Smart Workplace Mobile App Portfolio Contract with Norfolk Southern.

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 that it has won a multiyear contract to deploy its comprehensive Smart Workplace mobile app portfolio with Norfolk Southern Corporation (or “Norfolk Southern”).

Norfolk Southern, together with its subsidiaries, is a leading national rail transportation provider, operating approximately 19,500 route miles in 22 states and the District of Columbia, and serves every major container port in the Eastern United States. Norfolk Southern is a major transporter of industrial products, including chemicals, agriculture and metals and construction materials, while also operating as a principal carrier of coal, automobiles and automotive parts.

Phunware Inc. represents 41.87 million in outstanding shares, while the company has a total market value of $36.97 million with the latest information. PHUN stock price has been found in the range of $0.77 to $0.90.

If compared to the average trading volume of 3.36M shares, PHUN reached a trading volume of 3684534 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 0.09, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 2.80. The Price to Book ratio for the last quarter was 78.45, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for PHUN stock

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.14. With this latest performance, PHUN shares dropped by -13.48% in over the last four-week period, additionally plugging by 27.71% over the last 6 months – not to mention a drop of -53.30% 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 35.97, with the RSI for the last a single of trading hit 33.03, and the three-weeks RSI is set at 38.46 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.0279, while it was recorded at 0.8372 for the last single week of trading, and 1.0367 for the last 200 days.

Phunware Inc. [PHUN]: A deeper dive into fundamental analysis

Phunware Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

An analysis of insider ownership at Phunware Inc. [PHUN]

There are presently around $4 million, or 11.50% 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; TCTC HOLDINGS, LLC, holding 475,227 shares of the stock with an approximate value of $0.37 million in PHUN stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $0.32 million in PHUN stock with ownership of nearly New of the company’s market capitalization.

19 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 3,256,181 shares. Additionally, 28 investors decreased positions by around 4,557,742 shares, while 4 investors held positions by with 2,805,532 shares. The mentioned changes placed institutional holdings at 5,008,391 shares, according to the latest SEC report filing. PHUN stock had 10 new institutional investments in for a total of 3,026,018 shares, while 16 institutional investors sold positions of 797,740 shares during the same period.

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