A History of Outperforming Analyst Forecasts and Beating the Odds: Phunware Inc. (PHUN)

Phunware Inc. (NASDAQ: PHUN) stock fell -3.67% on Monday to $0.25 against a previous-day closing price of $0.26. With 1.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.77 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.2700 whereas the lowest price it dropped to was $0.2451. The 52-week range on PHUN shows that it touched its highest point at $1.86 and its lowest point at $0.24 during that stretch. It currently has a 1-year price target of $1.50. Beta for the stock currently stands at 10.09.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


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 down-trending over the past week, with a drop of -4.52%, but this was down by -24.12% over a month. Three-month performance dropped to -56.67% while six-month performance fell -68.04%. The stock lost -86.05% in the past year, while it has lost -68.06% so far this year. A look at the trailing 12-month EPS for PHUN yields -0.29 with Next year EPS estimates of -0.16. For the next quarter, that number is -0.06. This implies an EPS growth rate of 27.50% for this year and 23.80% for next year.

Float and Shares Shorts:

At present, 121.29 million PHUN shares are outstanding with a float of 112.29 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.08 million, which was 7.40% higher than short shares on Jul 30, 2023. In addition to Mr. Russell Buyse as the firm’s CEO & Director, Mr. Christopher D. Olive serves as its Exec. VP, Gen. Counsel & Chief Legal Officer.

Institutional Ownership:

Through their ownership of 9.60% of PHUN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.19% of PHUN, in contrast to 2.32% held by mutual funds. Shares owned by individuals account for 10.41%. As the largest shareholder in PHUN with 4.33% of the stake, The Vanguard Group, Inc. holds 5,257,349 shares worth 5,257,349. A second-largest stockholder of PHUN, BlackRock Fund Advisors, holds 1,111,355 shares, controlling over 0.92% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in PHUN, holding 944,966 shares or 0.78% stake. With a 3.24% stake in PHUN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,924,649 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.01% of PHUN stock, is the second-largest Mutual Fund holder. It holds 1,225,460 shares valued at 0.34 million. Fidelity Extended Market Index Fu holds 0.42% of the stake in PHUN, owning 514,784 shares worth 0.14 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PHUN reported revenue of $5.49M and operating income of -$7.54M. The EBITDA in the recently reported quarter was -$7.32M and diluted EPS was -$0.17.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PHUN since 0 analysts follow the stock currently. 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 $1.00 and a low target of $0.50, the average target price over the next 12 months is $0.75. Based on these targets, PHUN could surge 300.0% to reach the target high and rise by 100.0% to reach the target low. Reaching the average price target will result in a growth of 200.0% 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.

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.

Leave a Comment

Your email address will not be published. Required fields are marked *