Geode Capital Management LLC recently announced the acquisition of new stake in Phunware Inc (NASDAQ:PHUN). The institutional investor has increased its shareholding in the Technology company by 4.58% to 0.99 million shares with purchase of 43260.0 shares. This fresh investment now brings its stake to 0.74% valued currently at $0.17 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 90358.0 to 0.38 million shares. And T. Rowe Price International Ltd. has lifted its position by 96.79% or 76100.0 shares – to 0.15 million shares.
With over 11.05 million Phunware Inc (PHUN) shares trading Monday and a closing price of $0.15 on the day, the dollar volume was approximately $1.66 million. The shares have shown a negative half year performance of -75.38% and its price on 12/04/23 gained nearly 17.44%. Currently, there are 135.44M common shares owned by the public and among those 128.41M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for PHUN have a consensus price objective of $0.65. The analysts have set the share’s price value over the next 12 months at a high of $1.00 and a low of $0.45. The average price target is 76.92% above its recent price level and an upside to the estimated low will see the stock gain 66.67% over that period. But an upside of 85.0% will see the stock hit the forecast high price target while median target price for the stock is $0.50.
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 Total Stock Market ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market ETF owns 3.43 million shares of the company’s stock, all valued at over $0.6 million. The company sold -0.49 million shares recently to bring their total holdings to about 2.58% of the shares outstanding. Fidelity Extended Market Index Fu bought 42373.0 shares to bring its total holdings to over 0.56 million shares at a value of $97502.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.42% of the shares outstanding.
However, the script later moved the day high at 0.1550, up 17.44%. The company’s stock has a 5-day price change of 15.23% and -46.17% over the past three months. PHUN shares are trading -80.93% year to date (YTD), with the 12-month market performance down to -86.71% lower. It has a 12-month low price of $0.11 and touched a high of $1.15 over the same period. PHUN has an average intraday trading volume of 1.87 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 2.64%, -11.10%, and -67.85% respectively.
Institutional ownership of Phunware Inc (NASDAQ: PHUN) shares accounts for 6.67% of the company’s 135.44M shares outstanding. Mutual fund holders own 4.26%, while other institutional holders and individual stakeholders account for 9.75% and 2.52% respectively.
It has a market capitalization of $19.98M and a beta (3y monthly) value of 10.36. The earnings-per-share (ttm) stands at -$0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.20% over the week and 8.47% over the month.
Analysts forecast that Phunware Inc (PHUN) will achieve an EPS of $Huntsman Corporation for the current quarter, $25.21 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $PHINIA Inc. while analysts give the company a high EPS estimate of $PJUN. Comparatively, EPS for the current quarter was $Phunware, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 45.75%, and 44.58% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Phunware Inc (PHUN) as a “Strong Buy” at a consensus score of 1.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 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. ROTH Capital stated their Buy rating for the stock in a research note on May 11, 2021, with the firm’s price target at $2.50.
