The growth track for Phunware Inc. (PHUN) has changed recently

Phunware Inc. (NASDAQ: PHUN) stock jumped 5.91% on Friday to $1.04 against a previous-day closing price of $0.98. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.79 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $1.0400 whereas the lowest price it dropped to was $0.9820. The 52-week range on PHUN shows that it touched its highest point at $3.87 and its lowest point at $0.75 during that stretch. It currently has a 1-year price target of $3.44.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PHUN was up-trending over the past week, with a rise of 0.97%, but this was up by 25.30% over a month. Three-month performance dropped to -2.80% while six-month performance fell -40.91%. The stock lost -63.25% in the past year, while it has gained 34.49% so far this year. A look at the trailing 12-month EPS for PHUN yields -0.76 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.08. This implies an EPS growth rate of -41.50% for this year and 44.90% for next year.

Float and Shares Shorts:

At present, 98.82 million PHUN shares are outstanding with a float of 95.55 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.71 million, which was 4.79% higher than short shares on Sep 14, 2022. In addition to Mr. Alan S. Knitowski as the firm’s Co-Founder, Pres, CEO & Director, Mr. Matt Aune serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 12.34% of PHUN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.45% of PHUN, in contrast to 3.64% held by mutual funds. Shares owned by individuals account for 11.42%. As the largest shareholder in PHUN with 3.96% of the stake, The Vanguard Group, Inc. holds 4,060,790 shares worth 4,060,790. A second-largest stockholder of PHUN, BlackRock Fund Advisors, holds 1,300,528 shares, controlling over 1.27% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in PHUN, holding 848,109 shares or 0.83% stake. With a 2.92% stake in PHUN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,995,747 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.18% of PHUN stock, is the second-largest Mutual Fund holder. It holds 1,211,441 shares valued at 0.94 million. Fidelity Extended Market Index Fu holds 0.47% of the stake in PHUN, owning 479,885 shares worth 0.37 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PHUN since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PHUN analysts setting a high price target of $5.00 and a low target of $2.50, the average target price over the next 12 months is $3.44. Based on these targets, PHUN could surge 380.77% to reach the target high and rise by 140.38% to reach the target low. Reaching the average price target will result in a growth of 230.77% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PHUN will report FY 2022 earnings on 03/21/2024. Analysts have provided yearly estimates in a range of -$0.26 being high and -$0.49 being low. For PHUN, this leads to a yearly average estimate of -$0.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Phunware Inc. surprised analysts by -$0.01 when it reported -$0.08 EPS against a consensus estimate of -$0.07. The surprise factor in the prior quarter was -$0.12. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.08.

Summary of Insider Activity:

Insiders traded PHUN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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