For Phunware Inc. [PHUN], Analyst sees a rise to $2.50. What next?

Phunware Inc. [NASDAQ: PHUN] traded at a high on 05/11/21, posting a 13.82 gain after which it closed the day’ session at $1.40. The company report on May 11, 2021 that Phunware Begins Selling PhunToken.

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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 it has launched the PhunToken Purchase Portal to begin selling PhunToken (“PHTK”) to consumers, developers and brands.

PhunToken is an innovative cryptocurrency utilized by a blockchain-enabled Mobile Loyalty Ecosystem to help drive engagement by unlocking the features and capabilities of Phunware’s Multiscreen-as-a-Service (“MaaS”) platform. PhunToken is designed to promote profitable behavior by rewarding consumers for their activity, such as watching branded videos, completing surveys designed to understand purchase intent and visiting points of interest.

The results of the trading session contributed to over 22224328 shares changing hands. Over the past one week, the price volatility of Phunware Inc. stands at 10.87% while the volatility over the past one month is 9.51%.

The market cap for PHUN stock reached $100.38 million, with 71.21 million shares outstanding and 58.86 million shares in the current float. Compared to the average trading volume of 11.01M shares, PHUN reached a trading volume of 22224328 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Phunware Inc. [PHUN]?

ROTH Capital have made an estimate for Phunware Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 11, 2021. While these analysts kept the previous recommendation, Ascendiant Capital Markets raised their target price to Buy. The new note on the price target was released on June 16, 2020, representing the official price target for Phunware Inc. stock.

The Average True Range (ATR) for Phunware Inc. is set at 0.16, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 10.04.

How has PHUN stock performed recently?

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.89. With this latest performance, PHUN shares dropped by -20.00% in over the last four-week period, additionally plugging by 100.46% over the last 6 months – not to mention a rise of 95.07% 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 42.33, with the RSI for the last a single of trading hit 42.48, and the three-weeks RSI is set at 43.55 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.6865, while it was recorded at 1.3600 for the last single week of trading, and 1.3350 for the last 200 days.

Phunware Inc. [PHUN]: Deeper insight into the fundamentals

Phunware Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Insider trade positions for Phunware Inc. [PHUN]

There are presently around $5 million, or 19.30% 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 8.00% of the total institutional ownership; BLACKROCK INC., holding 1,089,224 shares of the stock with an approximate value of $1.52 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.39 million in PHUN stock with ownership of nearly 151.315% of the company’s market capitalization.

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14 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 1,992,997 shares. Additionally, 13 investors decreased positions by around 764,285 shares, while 4 investors held positions by with 512,554 shares. The mentioned changes placed institutional holdings at 3,269,836 shares, according to the latest SEC report filing. PHUN stock had 4 new institutional investments in for a total of 27,475 shares, while 9 institutional investors sold positions of 646,209 shares during the same period.

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