Rahul Mewawalla Sells 29,595 Shares of Phunware, Inc. (NASDAQ:PHUN) 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 stock was sold at an average price of $5.15, for a total value of $152,414.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Phunware Stock Performance

Shares of NASDAQ:PHUN traded down $0.32 during midday trading on Tuesday, hitting $4.38. 1,433,460 shares of the stock were exchanged, compared to its average volume of 3,320,922. The business’s 50-day moving average price is $5.54 and its 200 day moving average price is $5.16. Phunware, Inc. has a 12 month low of $2.85 and a 12 month high of $24.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.80 and a current ratio of 3.80.

Hedge Funds Weigh In On Phunware

A hedge fund recently raised its stake in Phunware stock. Geode Capital Management LLC grew its stake in shares of Phunware, Inc. (NASDAQ:PHUN) by 36.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,767 shares of the company’s stock after purchasing an additional 30,507 shares during the period. Geode Capital Management LLC owned approximately 1.00% of Phunware worth $389,000 as of its most recent filing with the Securities and Exchange Commission. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHUN has been the subject of a number of analyst reports. HC Wainwright downgraded Phunware from a “buy” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 12th. Ascendiant Capital Markets cut their target price on shares of Phunware from $20.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th.

Phunware Company Profile

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.