Phunware, Inc. (NASDAQ:PHUN) Director Sells $152,414.25 in Stock

Phunware, Inc. (NASDAQ:PHUN) Director Rahul Mewawalla sold 29,595 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $5.15, for a total value of $152,414.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Phunware Price Performance

Shares of PHUN opened at $4.38 on Wednesday. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $5.54 and a 200 day simple moving average of $5.16. Phunware, Inc. has a 52-week low of $2.85 and a 52-week high of $24.49.

Hedge Funds Weigh In On Phunware

A hedge fund recently raised its stake in Phunware stock. Geode Capital Management LLC grew its position in shares of Phunware, Inc. (NASDAQ:PHUN) by 36.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,767 shares of the company’s stock after acquiring an additional 30,507 shares during the quarter. Geode Capital Management LLC owned 1.00% of Phunware worth $389,000 at the end of the most recent reporting period. 7.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Ascendiant Capital Markets decreased their price objective on Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. HC Wainwright lowered Phunware from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $6.00 in a research report on Tuesday, November 12th.

About Phunware

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.