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.
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.
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.
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.