Phunware Inc. [PHUN] stock Initiated by Ascendiant Capital Markets analyst, price target now $4

Phunware Inc. [NASDAQ: PHUN] closed the trading session at $1.87 on 02/25/21. The day’s price range saw the stock hit a low of $1.86, while the highest price level was $2.1359. The company report on February 18, 2021 that Phunware Closes 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, has closed its previously announced underwritten public offering of common stock, effective February 12, 2021.

Phunware sold a total of 11,761,111 shares of its common stock in the offering, after the underwriter’s partial exercise of its overallotment option. Net proceeds to Phunware from the offering were approximately $24.7 million, after deducting underwriting discounts and commissions and other estimated offering expenses. Northland Securities Inc. and Roth Capital Partners acted as joint book-running managers for the offering.

The stocks have a year to date performance of 48.41 percent and weekly performance of -22.73 percent. The stock has been moved at 76.42 percent over the last six months. The stock has performed 3.31 percent around the most recent 30 days and changed 190.96 percent over the most recent 3-months.

If compared to the average trading volume of 13.54M shares, PHUN reached to a volume of 5910254 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]:

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 0.39, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 11.19.

PHUN stock trade performance evaluation

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.73. With this latest performance, PHUN shares gained by 3.31% in over the last four-week period, additionally plugging by 76.42% over the last 6 months – not to mention a rise of 65.49% 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 44.95, with the RSI for the last a single of trading hit 38.84, and the three-weeks RSI is set at 48.56 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.7011, while it was recorded at 2.1820 for the last single week of trading, and 1.2192 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 $4 million, or 3.70% 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 8.40% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 278,306 shares of the stock with an approximate value of $0.52 million in PHUN stocks shares; and STA WEALTH MANAGEMENT, LLC, currently with $0.46 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, 15 investors decreased positions by around 768,696 shares, while 2 investors held positions by with 461,638 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 10 institutional investors sold positions of 648,561 shares during the same period.

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