Millennium Management LLC recently announced the acquisition of new stake in Phunware Inc. (NASDAQ:PHUN). This fresh investment now brings its stake to 0.99% valued currently at $0.6 million. In addition, STA Wealth Management LLC raised its holdings by 6875.0 to 0.22 million shares.
With over 1.61 million Phunware Inc. (PHUN) shares trading Monday and a closing price of $1.08 on the day, the dollar volume was approximately $1.74 million. The shares have shown a positive weekly performance of 2.86% and its price on 08/31/20 gained nearly 2.86%. Currently, there are 41.87M common shares owned by the public and among those 37.90M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for PHUN have a consensus price objective of $3.13. The analysts have set the share’s price value over the next 12 months at a high of $4.25 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Phunware Inc. stock is 2.00 for the next 12 months. But an upside of 74.59% will see the stock hit the forecast high price target while mean target price for the stock is $3.13.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Phunware Inc. are Vanguard Extended Market Index Fu, Fidelity Small Cap Index Fund, and Fidelity Extended Market Index Fu. Vanguard Extended Market Index Fu owns 0.39 million shares of the company’s stock, all valued at over $0.59 million. Fidelity Small Cap Index Fund bought 14443.0 shares to see its total holdings expand to 0.17 million shares valued at over $0.25 million and representing 0.42% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.20% of the shares outstanding.
Shares of Phunware Inc. (NASDAQ: PHUN) opened at $1.04, down -$0.01 from a prior closing price of $1.05. However, the script later closed the day at $1.08, up 2.86%. The company’s stock has a 5-day price change of 2.86% and -12.20% over the past three months. PHUN shares are trading -9.24% year to date (YTD), with the 12-month market performance down to -28.00% lower. It has a 12-month low price of $0.54 and touched a high of $3.00 over the same period. Currently, 1.61 million shares have been traded, compared to an average intraday trading volume of 4.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -21.15%, -20.82%, and -1.08% respectively.
Institutional ownership of Phunware Inc. (NASDAQ: PHUN) shares accounts for 11.50% of the company’s 41.87M shares outstanding. Mutual fund holders own 2.67%, while other institutional holders and individual stakeholders account for 9.56% and 18.07% respectively.
It has a market capitalization of $47.52M. The earnings-per-share (ttm) stands at -$0.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.11% over the week and 10.85% over the month.
Analysts forecast that Phunware Inc. (PHUN) will achieve an EPS of -$0.07 for the current quarter, -$0.07 for the next quarter and -$0.28 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.07. Earnings per share for the fiscal year are expected to increase by 9.00%, and 15.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Phunware Inc. (PHUN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PHUN, a number of firms have released research notes about the stock. Ascendiant Capital Markets stated their Buy rating for the stock in a research note on June 16, 2020, with the firm’s price target at $4.