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


Phunware Inc. [NASDAQ: PHUN] gained 13.11% on the last trading session, reaching $1.38 price per share at the time. The company report on June 21, 2022 that Phunware Releases PhunWallet Version 1.3 Mobile App Update.

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Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or “the Company”), a fully-integrated enterprise cloud platform for mobile (“MaaS”) that provides products, solutions, data and services for brands worldwide, today announced the release of PhunWallet version 1.3, an updated mobile application software on the Apple App Store and Google Play for Android.

Phunware Inc. represents 96.84 million in outstanding shares, while the company has a total market value of $127.25 million with the latest information. PHUN stock price has been found in the range of $1.30 to $1.54.

If compared to the average trading volume of 2.25M shares, PHUN reached a trading volume of 36345933 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 $4.56 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 0.11, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 8.05. The Price to Book ratio for the last quarter was 2.56, with the Price to Cash per share for the same quarter was set at 0.12.

Trading performance analysis for PHUN stock

Phunware Inc. [PHUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.43. With this latest performance, PHUN shares dropped by -1.43% in over the last four-week period, additionally sinking by -55.05% over the last 6 months – not to mention a rise of 10.40% 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 58.83, with the RSI for the last a single of trading hit 69.88, and the three-weeks RSI is set at 51.31 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 1.4117, while it was recorded at 1.1840 for the last single week of trading, and 2.4241 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 1.40 and a Current Ratio set at 1.60.

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

There are presently around $14 million, or 14.40% of PHUN stock, in the hands of institutional investors. The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 3,423,387, which is approximately 4.074% of the company’s market cap and around 4.30% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 1,410,327 shares of the stock with an approximate value of $1.95 million in PHUN stocks shares; and BLACKROCK INC., currently with $1.66 million in PHUN stock with ownership of nearly 1.964% of the company’s market capitalization.

30 institutional holders increased their position in Phunware Inc. [NASDAQ:PHUN] by around 3,158,427 shares. Additionally, 23 investors decreased positions by around 684,408 shares, while 13 investors held positions by with 6,223,082 shares. The mentioned changes placed institutional holdings at 10,065,917 shares, according to the latest SEC report filing. PHUN stock had 13 new institutional investments in for a total of 510,502 shares, while 12 institutional investors sold positions of 204,852 shares during the same period.