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



Phunware Inc. [NASDAQ: PHUN] traded at a low on 10/26/21, posting a -39.25 loss after which it closed the day’ session at $4.35. The company report on October 26, 2021 that Benzinga to Host Fireside Chat with Former Congressman Ryan Costello on Phunware-Enabled Politics.

Phunware, Inc. (NASDAQ: PHUN), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced it will be participating in a fireside chat with Ryan Costello, a Company Board Member and former Pennsylvania Congressman, on Wednesday, November 3rd, at 12:00 PM ET. Ryan Costello and Phunware Chief Operating Officer, Randall Crowder, will be hosted by Benzinga to discuss Phunware’s previous work with the Trump Administration, as well as how Phunware’s platform can be used to better engage voters and build robust communities that foster the fair exchange of information and ideas.

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Ryan Costello previously served in the United States Congress from 2015 to 2019, where he focused on digital commerce and technology issues, including privacy, Internet of Things (IoT), cyber security and healthcare IT. Prior to Congress, he served as a Township and County official who regularly dealt with vendors in the technology services procurement process. Mr. Costello also previously served on his local hospital’s board of directors. He is now a consultant in Washington D.C., advising energy, technology and healthcare companies on public policy issues involving the federal government.

The results of the trading session contributed to over 125179240 shares changing hands. Over the past one week, the price volatility of Phunware Inc. stands at 114.60% while the volatility over the past one month is 31.69%.

The market cap for PHUN stock reached $57.90 million, with 71.62 million shares outstanding and 69.14 million shares in the current float. Compared to the average trading volume of 16.87M shares, PHUN reached a trading volume of 125179240 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PHUN shares is $2.48 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.

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 2.05, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 7.06. The Price to Book ratio for the last quarter was 29.00, with the Price to Cash per share for the same quarter was set at 0.20.

How has PHUN stock performed recently?

Phunware Inc. [PHUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 326.47. With this latest performance, PHUN shares gained by 339.04% in over the last four-week period, additionally plugging by 165.24% over the last 6 months – not to mention a rise of 474.94% 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 60.73, with the RSI for the last a single of trading hit 59.04, and the three-weeks RSI is set at 61.43 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.34, while it was recorded at 4.57 for the last single week of trading, and 1.51 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 0.40 and a Current Ratio set at 0.40.

Insider trade positions for Phunware Inc. [PHUN]

There are presently around $25 million, or 22.70% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 2,365,382, which is approximately 7.762% of the company’s market cap and around 6.30% of the total institutional ownership; BLACKROCK INC., holding 1,063,294 shares of the stock with an approximate value of $4.62 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.34 million in PHUN stock with ownership of nearly 1.863% of the company’s market capitalization.

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14 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 915,046 shares. Additionally, 15 investors decreased positions by around 318,935 shares, while 8 investors held positions by with 4,436,791 shares. The mentioned changes placed institutional holdings at 5,670,772 shares, according to the latest SEC report filing. PHUN stock had 5 new institutional investments in for a total of 502,856 shares, while 10 institutional investors sold positions of 189,337 shares during the same period.



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