Stock Traders Purchase High Volume of Put Options on Phunware (NASDAQ:PHUN)

Phunware (NASDAQ:PHUN) saw unusually large options trading on Monday. Traders purchased 2,845 put options on the stock. This represents an increase of 2,864% compared to the average volume of 96 put options.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PHUN shares. HC Wainwright decreased their price target on shares of Phunware from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phunware in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Phunware currently has an average rating of “Hold” and an average target price of $6.33.

Phunware Trading Down 3.0%

PHUN stock opened at $1.93 on Wednesday. The stock’s 50 day simple moving average is $2.25 and its 200 day simple moving average is $2.69. Phunware has a 12-month low of $1.77 and a 12-month high of $6.29. The firm has a market cap of $38.97 million, a P/E ratio of -3.71 and a beta of 2.65.

Phunware (NASDAQ:PHUN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Phunware had a negative net margin of 505.26% and a negative return on equity of 10.45%. The firm had revenue of $0.62 million during the quarter, compared to the consensus estimate of $0.53 million. On average, research analysts forecast that Phunware will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Phunware

A number of institutional investors have recently modified their holdings of PHUN. Citadel Advisors LLC acquired a new stake in Phunware during the third quarter worth about $303,000. Cantor Fitzgerald L. P. bought a new stake in shares of Phunware in the 3rd quarter worth approximately $248,000. Bridgeway Capital Management LLC acquired a new position in Phunware during the 3rd quarter valued at approximately $138,000. Bank of America Corp DE boosted its position in Phunware by 13,900.9% during the 3rd quarter. Bank of America Corp DE now owns 30,522 shares of the company’s stock valued at $84,000 after purchasing an additional 30,304 shares during the period. Finally, R Squared Ltd bought a new position in Phunware during the 2nd quarter worth $39,000. Institutional investors own 7.57% of the company’s stock.

Phunware Company Profile

Phunware, Inc (NASDAQ: PHUN) is a technology company specializing in enterprise mobile software and services. Its unified Mobile Application Platform (MAP) delivers a comprehensive suite of cloud-based solutions designed to engage, monetize and analyze audiences across mobile devices. Through its multi-tenant SaaS architecture, Phunware supports the full lifecycle of mobile applications, from development and content management to user identity and data-driven marketing.

The company’s product offerings include location-based services such as indoor and outdoor mapping, real-time wayfinding, geofencing and proximity notifications.