Short Interest in Phunware Inc (NASDAQ:PHUN) Expands By 19.5%

Phunware Inc (NASDAQ:PHUN) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 697,800 shares, a growth of 19.5% from the July 31st total of 583,700 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily volume of 850,400 shares, the short-interest ratio is currently 0.8 days.

In related news, CEO Alan S. Knitowski purchased 21,750 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $1.15 per share, for a total transaction of $25,012.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alan S. Knitowski purchased 43,750 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $1.35 per share, for a total transaction of $59,062.50. The disclosure for this purchase can be found here. Insiders acquired a total of 85,703 shares of company stock worth $110,269 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PHUN. Sfmg LLC bought a new position in shares of Phunware during the 2nd quarter worth about $29,000. BBR Partners LLC bought a new position in shares of Phunware during the 2nd quarter worth about $34,000. Cresset Asset Management LLC bought a new position in shares of Phunware during the 2nd quarter worth about $42,000. Tower Research Capital LLC TRC bought a new position in shares of Phunware during the 2nd quarter worth about $43,000. Finally, Morgan Stanley lifted its holdings in shares of Phunware by 1,049.3% during the 2nd quarter. Morgan Stanley now owns 64,279 shares of the company’s stock worth $200,000 after acquiring an additional 58,686 shares during the period. 7.45% of the stock is owned by institutional investors.

Separately, ValuEngine upgraded shares of Phunware from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

NASDAQ PHUN traded up $0.03 during midday trading on Friday, hitting $1.73. The company had a trading volume of 256,301 shares, compared to its average volume of 564,943. The stock has a fifty day moving average of $1.57. Phunware has a fifty-two week low of $1.11 and a fifty-two week high of $550.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.26 and a quick ratio of 0.26.

Phunware (NASDAQ:PHUN) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $5.51 million for the quarter.

About Phunware

Phunware Inc, together with its subsidiaries, provides Multiscreen-as-a-Service (Maas) and Data-as-a-Service (DaaS) enterprise software platform for mobile devices. Its platform enables brands to engage, manage, and monetize their mobile application portfolios. The company offers Cloud-Based Mobile Software Development Kits (SDKs), which include location-based services, mobile engagement, content management, messaging, advertising, and analytics; and mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application solutions.

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