Phunware Inc. [PHUN] Revenue clocked in at $10.70 million, up 119.84% YTD: What’s Next?

Phunware Inc. [NASDAQ: PHUN] gained 4.92% or 0.13 points to close at $2.77 with a heavy trading volume of 11960585 shares. The company report on February 12, 2021 that Phunware, Inc. Announces Pricing of Public Offering of Common Stock.

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Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or “the Company”) a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced the pricing of its previously announced underwritten public offering of 11,111,111 shares of its common stock at a price to the public of $2.25 per share. In addition, Phunware has granted the underwriters a 30-day option, solely to cover over-allotments, if any, to purchase up to 1,666,666 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 17, 2021, subject to customary closing conditions.

Northland Securities Inc. and Roth Capital Partners are acting as joint book-running managers for the offering.

It opened the trading session at $2.84, the shares rose to $3.039 and dropped to $2.63, the range by which the price of stock traded the whole day. The daily chart for PHUN points out that the company has recorded 103.68% gains over the past six months. However, it is still -412.96% lower than its most recent low trading price.

If we look at the average trading volume of 12.32M shares, PHUN reached to a volume of 11960585 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PHUN shares is $2.90 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 0.38, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 12.52.

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 0.00. With this latest performance, PHUN shares gained by 109.85% in over the last four-week period, additionally plugging by 103.68% over the last 6 months – not to mention a rise of 206.18% 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 64.66, with the RSI for the last a single of trading hit 63.44, and the three-weeks RSI is set at 64.97 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.49, while it was recorded at 2.79 for the last single week of trading, and 1.16 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 $6 million, or 4.40% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 1,157,878, which is approximately 113.79% of the company’s market cap and around 12.50% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 278,306 shares of the stock with an approximate value of $0.77 million in PHUN stocks shares; and STA WEALTH MANAGEMENT, LLC, currently with $0.69 million in PHUN stock with ownership of nearly 11.719% of the company’s market capitalization.

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12 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 933,627 shares. Additionally, 18 investors decreased positions by around 929,531 shares, while 2 investors held positions by with 300,803 shares. The mentioned changes placed institutional holdings at 2,163,961 shares, according to the latest SEC report filing. PHUN stock had 2 new institutional investments in for a total of 33,575 shares, while 13 institutional investors sold positions of 809,396 shares during the same period.

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