Telenav (TNAV) Downgraded by ValuEngine

ValuEngine cut shares of Telenav (NASDAQ:TNAV) from a strong-buy rating to a buy rating in a research report report published on Saturday, March 30th, ValuEngine reports.

Several other analysts have also recently weighed in on TNAV. Zacks Investment Research cut Telenav from a strong-buy rating to a hold rating in a research report on Thursday, January 10th. BidaskClub raised Telenav from a buy rating to a strong-buy rating in a research report on Friday, February 22nd.

NASDAQ TNAV opened at $6.60 on Friday. The stock has a market capitalization of $297.83 million, a P/E ratio of -3.38 and a beta of 0.98. Telenav has a 1 year low of $3.35 and a 1 year high of $7.00.

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

In related news, Director Nokomis Capital, L.L.C. purchased 69,193 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were purchased at an average cost of $5.20 per share, with a total value of $359,803.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders bought 257,251 shares of company stock worth $1,453,157. Insiders own 24.82% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its holdings in Telenav by 5.7% in the 2nd quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock worth $1,960,000 after acquiring an additional 18,858 shares during the last quarter. BlackRock Inc. raised its holdings in Telenav by 1.3% in the 3rd quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock worth $8,526,000 after acquiring an additional 22,342 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Telenav by 163.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 71,162 shares of the technology company’s stock worth $359,000 after acquiring an additional 44,147 shares during the last quarter. ARS Investment Partners LLC raised its holdings in Telenav by 11.0% in the 3rd quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock worth $1,019,000 after acquiring an additional 19,951 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Telenav by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after acquiring an additional 144,495 shares during the last quarter. 48.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Purposes and Functions of the Federal Reserve

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Telenav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav and related companies with MarketBeat.com's FREE daily email newsletter.