Shares of Telenav Inc (NASDAQ:TNAV) have been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.88.
TNAV has been the subject of several analyst reports. ValuEngine downgraded shares of Telenav from a “sell” rating to a “strong sell” rating in a report on Friday, March 23rd. B. Riley restated a “buy” rating and set a $9.50 price objective on shares of Telenav in a research report on Monday, January 29th. Craig Hallum set a $9.00 price objective on shares of Telenav and gave the company a “buy” rating in a research report on Thursday, December 21st. Finally, Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, January 5th.
NASDAQ:TNAV remained flat at $$5.20 during trading hours on Wednesday. 2,650 shares of the company’s stock traded hands, compared to its average volume of 76,932. Telenav has a 1 year low of $4.50 and a 1 year high of $9.25.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.02. Telenav had a negative net margin of 38.56% and a negative return on equity of 56.00%. The firm had revenue of $39.10 million during the quarter, compared to the consensus estimate of $39.03 million. During the same period last year, the firm earned ($0.26) EPS. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. equities research analysts anticipate that Telenav will post -2.03 earnings per share for the current year.
In related news, CEO H.P. Jin acquired 20,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $5.66 per share, for a total transaction of $113,200.00. Following the transaction, the chief executive officer now owns 1,399,854 shares in the company, valued at approximately $7,923,173.64. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 24.67% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Divisar Capital Management LLC raised its position in Telenav by 5.0% in the 4th quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock worth $20,505,000 after purchasing an additional 178,013 shares during the period. Ariel Investments LLC raised its position in Telenav by 21.2% in the 4th quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock worth $19,854,000 after purchasing an additional 632,037 shares during the period. BlackRock Inc. raised its position in Telenav by 0.7% in the 4th quarter. BlackRock Inc. now owns 1,626,681 shares of the technology company’s stock worth $8,947,000 after purchasing an additional 10,831 shares during the period. B. Riley Financial Inc. raised its position in Telenav by 8.5% in the 4th quarter. B. Riley Financial Inc. now owns 943,716 shares of the technology company’s stock worth $5,190,000 after purchasing an additional 74,056 shares during the period. Finally, Renaissance Technologies LLC raised its position in Telenav by 5.2% in the 4th quarter. Renaissance Technologies LLC now owns 429,400 shares of the technology company’s stock worth $2,362,000 after purchasing an additional 21,100 shares during the period. Hedge funds and other institutional investors own 52.42% of the company’s stock.
TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.
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