Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Phunware Inc. shares valued at $38,912 were sold by Costello Ryan on Sep 15. At $1.95 per share, Costello Ryan sold 20,000 shares. The insider’s holdings dropped to 132,176 shares worth approximately $0.17 million following the completion of this transaction.
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Also, Manlunas Eric sold 55,983 shares, netting a total of over 229,530 in proceeds. Following the sale of shares at $4.10 each, the insider now holds 27,173 shares.
As published in their initiating research note from ROTH Capital on May 11, 2021, Phunware Inc. [PHUN] has been a Buy and the price target has been revised to $2.50. This represents a 48.4% premium over Wednesday’s closing price. Analysts at Ascendiant Capital Markets started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June.
Analyzing PHUN’s Price Performance
On Wednesday, Phunware Inc. [NASDAQ: PHUN] plunged -20.37% to $1.29. The stock’s lowest price that day was $1.25, but it reached a high of $1.54 in the same session. During the last five days, there has been a drop of approximately -30.27%. Over the course of the year, Phunware Inc. shares have dropped approximately -50.95%. Shares of the company reached a 52-week high of $3.8700 on 02/10/22 and a 52-week low of $1.0200 on 06/30/22. A 50-day SMA is recorded $1.5012, while a 200-day SMA reached $2.0841. Nevertheless, trading volume fell to 6.0 million shares from 1.75 million shares the previous day.
Support And Resistance Levels for Phunware Inc. (PHUN)
According to the 24-hour chart, there is a support level at 1.1800, which, if violated, would cause prices to drop to 1.0700. In the upper region, resistance lies at 1.4700. The next price resistance is at 1.6500. RSI (Relative Strength Index) is 40.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0471, which suggests the price will decrease in the coming days. Percent R is at 93.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Phunware Inc. subject to short interest?
Stocks of Phunware Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.77 million shares to 5.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.65 million shares. A jump of 32.66% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.49.
Which companies own the most shares of Phunware Inc. (PHUN)?
According to The Vanguard Group, Inc. filings, the company currently owns 3,999,233 shares, which is about 4.07% of the total PHUN shares outstanding. The investor’s shares have appreciated by 607,988 from its previous 13-F filing of 3391245.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,639,443. Geode Capital Management LLC acquire a 1.79% interest valued at $1.0 million while Susquehanna Investment Group LLC purchased a 203,443 stake. A total of 2,100 shares of Phunware Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 0 by Sculptor Capital LP. In its current portfolio, Virtu Financial BD LLC holds 185,607 shares valued at $0.25 million.
In terms of Phunware Inc. share price expectations, FactSet research, analysts set an average price target of $3.88 in the next 12 months, up nearly 108.64% from the previous closing price of $1.62. Analysts anticipate Phunware Inc. stock to reach $5.75 by 2022, with the lowest price target being $3.00. In spite of this, 4 analysts ranked Phunware Inc. stock as a Buy at the end of 2022.