Nokomis Capital, L.L.C. Purchases 100,000 Shares of Telenav Inc (TNAV) Stock

Telenav Inc (NASDAQ:TNAV) Director Nokomis Capital, L.L.C. acquired 100,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average cost of $6.10 per share, with a total value of $610,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nokomis Capital, L.L.C. also recently made the following trade(s):

  • On Thursday, February 14th, Nokomis Capital, L.L.C. acquired 69,193 shares of Telenav stock. The shares were bought at an average cost of $5.20 per share, with a total value of $359,803.60.
  • On Tuesday, February 12th, Nokomis Capital, L.L.C. purchased 50,400 shares of Telenav stock. The stock was acquired at an average cost of $5.04 per share, with a total value of $254,016.00.

TNAV traded down $0.03 on Friday, reaching $6.06. The company’s stock had a trading volume of 469,251 shares, compared to its average volume of 155,656. The company has a market capitalization of $277.34 million, a price-to-earnings ratio of -3.11 and a beta of 0.98. Telenav Inc has a fifty-two week low of $3.35 and a fifty-two week high of $6.60.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.07. Telenav had a negative return on equity of 93.98% and a negative net margin of 50.00%. The company had revenue of $57.18 million during the quarter, compared to analysts’ expectations of $52.71 million. On average, equities research analysts predict that Telenav Inc will post -0.62 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Management Inc. purchased a new stake in Telenav in the third quarter valued at approximately $72,000. Barclays PLC lifted its stake in Telenav by 150.3% in the fourth quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after buying an additional 17,592 shares during the last quarter. Rhumbline Advisers lifted its stake in Telenav by 47.7% in the fourth quarter. Rhumbline Advisers now owns 41,745 shares of the technology company’s stock valued at $169,000 after buying an additional 13,477 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Telenav by 163.4% in the third quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock valued at $359,000 after buying an additional 44,147 shares during the last quarter. Finally, ARS Investment Partners LLC lifted its stake in Telenav by 11.0% in the third quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock valued at $1,019,000 after buying an additional 19,951 shares during the last quarter. Institutional investors own 48.99% of the company’s stock.

A number of equities analysts recently issued reports on the company. ValuEngine raised Telenav from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. BidaskClub raised Telenav from a “buy” rating to a “strong-buy” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research raised Telenav from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Thursday, February 14th.

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About Telenav

Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.

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