Phunware (NASDAQ:PHUN) Trading 2.4% Higher – Should You Buy?

Phunware (NASDAQ:PHUN) shares were up 2.4% during mid-day trading on Tuesday . The stock traded as high as $1.74 and last traded at $1.71. Approximately 210,082 shares were traded during trading, an increase of 0% from the average daily volume of 209,038 shares. The stock had previously closed at $1.67.

Wall Street Analysts Forecast Growth

PHUN has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Phunware in a research note on Monday, December 29th. HC Wainwright dropped their price target on shares of Phunware from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Phunware presently has a consensus rating of “Hold” and an average target price of $6.33.

Phunware Price Performance

The company has a market capitalization of $34.52 million, a PE ratio of -3.29 and a beta of 2.62. The business has a 50-day moving average of $1.86 and a 200 day moving average of $2.28.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its holdings in shares of Phunware by 177.6% in the fourth quarter. XTX Topco Ltd now owns 51,289 shares of the company’s stock worth $95,000 after purchasing an additional 32,812 shares during the last quarter. Cantor Fitzgerald L. P. increased its holdings in Phunware by 38.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 125,000 shares of the company’s stock valued at $231,000 after buying an additional 35,000 shares during the period. Panagora Asset Management Inc. lifted its holdings in Phunware by 98.2% during the fourth quarter. Panagora Asset Management Inc. now owns 28,523 shares of the company’s stock worth $53,000 after buying an additional 14,134 shares during the period. Jane Street Group LLC lifted its stake in shares of Phunware by 44.9% during the 4th quarter. Jane Street Group LLC now owns 73,511 shares of the company’s stock worth $136,000 after purchasing an additional 22,784 shares during the last quarter. Finally, HRT Financial LP purchased a new position in Phunware in the fourth quarter valued at about $25,000. 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.