Phunware Inc. [PHUN] fell -60.61% so far this year. What now?

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Phunware Inc. [NASDAQ: PHUN] stock went on an upward path that rose over 12.77% on Wednesday, amounting to a one-week price decrease of less than -4.87%. The company report on August 24, 2023 at 4:05 PM that Phunware Announces Purchase Agreement for up to $30 Million with Lincoln Park Capital Fund.

The Agreement Provides Phunware the Right, But Not the Obligation, to Sell Stock to Lincoln Park Over A 24-Month Period at the Company’s Sole Discretion.

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Over the last 12 months, PHUN stock dropped by -77.44%. The one-year Phunware Inc. stock forecast points to a potential upside of 80.0. The average equity rating for PHUN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $36.93 million, with 121.29 million shares outstanding and 112.56 million shares in the current float. Compared to the average trading volume of 2.57M shares, PHUN stock reached a trading volume of 3097580 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $1.50 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.

The Average True Range (ATR) for Phunware Inc. is set at 0.03, with the Price to Sales ratio for PHUN stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 1.79, with the Price to Cash per share for the same quarter was set at 0.01.

PHUN Stock Performance Analysis:

Phunware Inc. [PHUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.87. With this latest performance, PHUN shares dropped by -25.71% in over the last four-week period, additionally sinking by -68.78% over the last 6 months – not to mention a drop of -77.44% 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 37.91, with the RSI for the last a single of trading hit 41.72, and the three-weeks RSI is set at 36.73 for Phunware Inc. [PHUN]. The present Moving Average for the last 50 days of trading for this stock 0.4014, while it was recorded at 0.2827 for the last single week of trading, and 0.7275 for the last 200 days.

Insight into Phunware Inc. Fundamentals:

Phunware Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.30.

Phunware Inc. [PHUN] Institutonal Ownership Details

The top three institutional holders of PHUN stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in PHUN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in PHUN stock with ownership which is approximately 5.7381%.

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