ROTH Capital slashes price target on Phunware Inc. [PHUN] – find out why.


Phunware Inc. [NASDAQ: PHUN] loss -5.88% or -0.18 points to close at $2.88 with a heavy trading volume of 6592096 shares. The company report on December 23, 2021 that Phunware Announces Partnership with PrimusTech to Integrate Mobile Smart Solutions in Asia.

Phunware, Inc. (NASDAQ: PHUN), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has partnered with PrimusTech to integrate and offer its Smart Solutions on mobile.

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Based in Singapore, PrimusTech is a leading Master System Integrator that offers a comprehensive range of services and solutions to support digital transformation that include Integrated Building Management Systems (IBMS), Smart Facility Management Systems, Internet of Things (IoT)/Data Analytics, Extra-Low Voltage (ELV) Systems, Network Infrastructure and Infocomm Technology (ICT) solutions.

It opened the trading session at $3.05, the shares rose to $3.12 and dropped to $2.88, the range by which the price of stock traded the whole day. The daily chart for PHUN points out that the company has recorded 116.54% gains over the past six months. However, it is still -251.22% lower than its most recent low trading price.

If we look at the average trading volume of 34.77M shares, PHUN reached to a volume of 6592096 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 $5.44 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 0.30, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 37.72. The Price to Book ratio for the last quarter was 16.00, with the Price to Cash per share for the same quarter was set at 0.01.

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 -5.88. With this latest performance, PHUN shares dropped by -15.29% in over the last four-week period, additionally plugging by 116.54% over the last 6 months – not to mention a rise of 185.15% 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 43.80, with the RSI for the last a single of trading hit 39.69, and the three-weeks RSI is set at 46.81 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 3.53, while it was recorded at 2.99 for the last single week of trading, and 1.85 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 0.20 and a Current Ratio set at 0.20.

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An analysis of insider ownership at Phunware Inc. [PHUN]

There are presently around $18 million, or 18.10% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 2,371,684, which is approximately 0.266% of the company’s market cap and around 5.00% of the total institutional ownership; BLACKROCK INC., holding 1,060,355 shares of the stock with an approximate value of $3.25 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.05 million in PHUN stock with ownership of nearly 24.11% of the company’s market capitalization.

11 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 469,518 shares. Additionally, 12 investors decreased positions by around 278,917 shares, while 12 investors held positions by with 5,112,938 shares. The mentioned changes placed institutional holdings at 5,861,373 shares, according to the latest SEC report filing. PHUN stock had 8 new institutional investments in for a total of 331,051 shares, while 5 institutional investors sold positions of 191,941 shares during the same period.