Saturday, April 10, 2021

Phunware Inc. [PHUN] Stock trading around $1.92 per share: What’s Next?

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Phunware Inc. [NASDAQ: PHUN] stock went on an upward path that rose over 11.63% on Tuesday, amounting to a one-week price increase of more than 21.52%. The company report on April 6, 2021 that Phunware Board Authorizes Bitcoin Purchases for Blockchain Ecosystem Launch.

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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 that the Company’s board of directors authorized bitcoin purchases in preparation for the commercial launch of its blockchain-enabled MaaS Customer Data Platform and MaaS Mobile Loyalty Ecosystem.

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Phunware plans to release PhunWallet on iOS and Android later this month, subject to application approvals by Apple App Store and Google Play, respectively. PhunWallet will manage the issuance of not only PhunCoin to reward consumers for the value of their data, but also PhunToken to reward consumers for the value of their engagement.

Over the last 12 months, PHUN stock rose by 254.24%. 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 $132.04 million, with 44.30 million shares outstanding and 41.96 million shares in the current float. Compared to the average trading volume of 15.21M shares, PHUN stock reached a trading volume of 150875478 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.29, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 13.20.

PHUN Stock Performance Analysis:

Phunware Inc. [PHUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.52. With this latest performance, PHUN shares gained by 46.56% in over the last four-week period, additionally plugging by 92.04% over the last 6 months – not to mention a rise of 254.24% 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 52.35, with the RSI for the last a single of trading hit 56.33, and the three-weeks RSI is set at 51.55 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 2.0388, while it was recorded at 1.6960 for the last single week of trading, and 1.3046 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 $4 million, or 3.20% 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 $0.53 million in PHUN stocks shares; and STA WEALTH MANAGEMENT, LLC, currently with $0.48 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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