Phunware Inc (NASDAQ: PHUN) Could Be A Life-Changing Stock?

In the last trading session, 63.33 million Phunware Inc (NASDAQ:PHUN) shares changed hands as the company’s beta touched 2.57. With the company’s per share price at $0.34 changed hands at -$0.03 or -9.18% during last session, the market valuation stood at $64.94M. PHUN’s last price was a discount, traded about -226.47% off its 52-week high of $1.11. The share price had its 52-week low at $0.07, which suggests the last value was 79.41% up since then. When we look at Phunware Inc’s average trading volume, we note the 10-day average is 121.9 million shares, with the 3-month average coming to 0.56.

Phunware Inc (NASDAQ:PHUN) trade information

Instantly PHUN was in red as seen at the end of in last trading. With action -1.61%, the performance over the past five days has been red. The drop to weekly highs of 0.4344 subtracted -9.18% to the stock’s daily price. The company’s shares are showing year-to-date upside of 310.24%, with the 5-day performance at -1.61% in the red. However, in the 30-day time frame, Phunware Inc (NASDAQ:PHUN) is 347.94% up. Looking at the short shares, we see there were 40.46 million shares sold at short interest cover period of 0.18 days.

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Phunware Inc (PHUN) estimates and forecasts

Data shows that the Phunware Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.33% over the past 6 months, a 39.22% in annual growth rate that is considerably higher than the industry average of 20.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Phunware Inc will rise 55.60%, while the growth in revenue is estimated to hit 50.00% for the next quarter. Year-over-year growth is forecast to reach -39.80% down from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $2.1 million. 3 analysts are of the opinion that Phunware Inc’s revenue for the quarter ending Mar 2024 will be $1.43 million. The company’s revenue for the corresponding quarters a year ago was $4.77 million and $4.75 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -56.00%. The estimates for the next quarter sales put growth at -69.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -76.52%. The 2024 estimates are for Phunware Inc earnings to increase by 41.67%.

Phunware Inc (NASDAQ:PHUN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 8.36% of Phunware Inc shares while 4.82% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 5.26%. There are 4.82% institutions holding the Phunware Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 4.39% of the shares, roughly 5.29 million PHUN shares worth $2.86 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.92% or 1.11 million shares worth $0.6 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 3.92 million shares estimated at $2.12 million under it, the former controlled 3.26% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.02% of the shares, roughly 1.23 million shares worth around $0.66 million.

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