ROTH Capital lifts Phunware Inc. [PHUN] price estimate. Who else is bullish?


Phunware Inc. [NASDAQ: PHUN] traded at a high on 03/23/22, posting a 4.73 gain after which it closed the day’ session at $2.88. The company report on March 23, 2022 that Phunware Reports Preliminary Full Year 2021 Financial Results.

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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, today announced preliminary financial results for the year ended December 31, 2021.

“The past year was an incredibly pivotal period for Phunware, as we made significant progress across all key segments of our business,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “The combination of our direct and indirect go-to-market strategies came to fruition in conjunction with the re-opening of the post-pandemic economy, resulting in extremely promising opportunities for our core MaaS business. Additionally, the acquisition of Lyte Technology late last year not only materially added to our top line revenues, but it also diversified our business channels by providing a conduit to further expand our B2C customer vertical. As we ramped our blockchain initiatives in parallel, we are encouraged by the number of prospective companies that have taken interest in our new digital offerings. As the first publicly-traded company worldwide to launch its own cryptocurrencies, we fully intend to capitalize on the opportunities available to us in the nascent new realm of monetizing one’s own data inside of a sovereign global data economy. Going forward, we expect to accelerate this expansion via organic and inorganic initiatives on an international scale, including top-line revenue growth of 250% or more year-over year, all while strategically investing for efficiency and diversification.”.

The results of the trading session contributed to over 6648739 shares changing hands. Over the past one week, the price volatility of Phunware Inc. stands at 6.39% while the volatility over the past one month is 8.96%.

The market cap for PHUN stock reached $270.17 million, with 96.26 million shares outstanding and 91.57 million shares in the current float. Compared to the average trading volume of 15.92M shares, PHUN reached a trading volume of 6648739 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 $5.19 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 0.24, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 37.01. 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.

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 11.20. With this latest performance, PHUN shares dropped by -12.20% in over the last four-week period, additionally plugging by 192.39% over the last 6 months – not to mention a rise of 50.00% 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 55.56, with the RSI for the last a single of trading hit 62.29, and the three-weeks RSI is set at 52.66 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 2.77, while it was recorded at 2.74 for the last single week of trading, and 2.21 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 $21 million, or 12.00% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 3,289,375, which is approximately 38.694% of the company’s market cap and around 5.40% of the total institutional ownership; BLACKROCK INC., holding 1,177,001 shares of the stock with an approximate value of $3.24 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.8 million in PHUN stock with ownership of nearly -2.11% of the company’s market capitalization.

42 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 2,591,862 shares. Additionally, 14 investors decreased positions by around 866,467 shares, while 3 investors held positions by with 4,128,439 shares. The mentioned changes placed institutional holdings at 7,586,768 shares, according to the latest SEC report filing. PHUN stock had 29 new institutional investments in for a total of 1,228,296 shares, while 7 institutional investors sold positions of 479,154 shares during the same period.