Telenav (TNAV) Upgraded at ValuEngine

ValuEngine upgraded shares of Telenav (NASDAQ:TNAV) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

TNAV has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Telenav from a strong-buy rating to a hold rating in a report on Thursday, January 10th. BidaskClub lowered shares of Telenav from a strong-buy rating to a buy rating in a report on Saturday, March 30th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $8.38.

Shares of Telenav stock traded down $0.14 during trading hours on Tuesday, reaching $6.75. 11,257 shares of the company’s stock were exchanged, compared to its average volume of 170,318. Telenav has a 1 year low of $3.35 and a 1 year high of $7.00. The firm has a market capitalization of $301.48 million, a price-to-earnings ratio of -3.45 and a beta of 0.97.

Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. Telenav had a negative net margin of 50.00% and a negative return on equity of 93.98%. The business had revenue of $53.07 million during the quarter, compared to analyst estimates of $51.02 million. As a group, equities analysts expect that Telenav will post -0.62 EPS for the current fiscal year.

In other news, Director Nokomis Capital, L.L.C. purchased 50,400 shares of the stock in a transaction dated Tuesday, February 12th. The shares were purchased at an average price of $5.04 per share, with a total value of $254,016.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 257,251 shares of company stock worth $1,453,157. Corporate insiders own 24.82% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Telenav by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,742,870 shares of the technology company’s stock valued at $7,076,000 after acquiring an additional 54,720 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Telenav by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after acquiring an additional 144,495 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Telenav by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after acquiring an additional 144,495 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Telenav by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock valued at $4,823,000 after acquiring an additional 20,195 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Telenav by 303.1% during the 1st quarter. JPMorgan Chase & Co. now owns 600,686 shares of the technology company’s stock valued at $3,646,000 after acquiring an additional 451,683 shares during the last quarter. 49.06% 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.

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