Phunware Inc. [PHUN] stock Initiated by ROTH Capital analyst, price target now $2.50

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Phunware Inc. [NASDAQ: PHUN] loss -6.13% or -0.13 points to close at $1.99 with a heavy trading volume of 2860685 shares. The company report on April 21, 2022 that Phunware Appoints Matt Lull as Executive Vice President & Chief Cryptocurrency Officer.

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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 Matt Lull, a 30-year veteran in technology and finance for Fortune 500 companies, has been hired as the Company’s first-ever Executive Vice President and Chief Cryptocurrency Officer, effective April 18, 2022.

“We are extremely excited to continue expanding our core executive team, this time adding one of the world’s first public company Chief Cryptocurrency Officer positions in the world,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “Matt is an exceptional find for our business and has an extremely rare combination of skill sets and experience which intersect perfectly with our core strategic focus on the intersection of mobile, cloud, big data and blockchain worldwide.”.

It opened the trading session at $2.12, the shares rose to $2.14 and dropped to $1.99, the range by which the price of stock traded the whole day. The daily chart for PHUN points out that the company has recorded 89.52% gains over the past six months. However, it is still -142.68% lower than its most recent low trading price.

If we look at the average trading volume of 10.92M shares, PHUN reached to a volume of 2860685 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 $5.19 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 0.17, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 18.59. The Price to Book ratio for the last quarter was 2.76, with the Price to Cash per share for the same quarter was set at 0.23.

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 -11.16. With this latest performance, PHUN shares dropped by -27.64% in over the last four-week period, additionally plugging by 89.52% over the last 6 months – not to mention a rise of 31.79% 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 31.49, with the RSI for the last a single of trading hit 26.03, and the three-weeks RSI is set at 36.20 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 2.70, while it was recorded at 2.13 for the last single week of trading, and 2.32 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 1.90 and a Current Ratio set at 2.00.

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

There are presently around $16 million, or 11.90% 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 5.00% of the total institutional ownership; BLACKROCK INC., holding 1,177,001 shares of the stock with an approximate value of $2.5 million in PHUN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.39 million in PHUN stock with ownership of nearly -2.11% of the company’s market capitalization.

40 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 2,591,487 shares. Additionally, 14 investors decreased positions by around 866,467 shares, while 5 investors held positions by with 4,148,935 shares. The mentioned changes placed institutional holdings at 7,606,889 shares, according to the latest SEC report filing. PHUN stock had 25 new institutional investments in for a total of 1,210,724 shares, while 7 institutional investors sold positions of 479,154 shares during the same period.