Telenav (TNAV) Lowered to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Telenav (NASDAQ:TNAV) from a sell rating to a strong sell rating in a research note released on Friday.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Telenav from a sell rating to a hold rating in a report on Tuesday, December 5th. Craig Hallum set a $9.00 target price on Telenav and gave the stock a buy rating in a report on Thursday, December 21st. Finally, B. Riley reiterated a buy rating and issued a $9.50 target price on shares of Telenav in a report on Monday, January 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $10.88.

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Telenav (NASDAQ:TNAV) traded down $0.10 during midday trading on Friday, reaching $5.40. The company’s stock had a trading volume of 60,286 shares, compared to its average volume of 48,170. The stock has a market cap of $245.04, a PE ratio of -4.09 and a beta of 0.89. Telenav has a fifty-two week low of $4.50 and a fifty-two week high of $9.25.

Telenav (NASDAQ:TNAV) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.02. The business had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $39.03 million. Telenav had a negative return on equity of 56.00% and a negative net margin of 38.56%. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) EPS. equities analysts forecast that Telenav will post -2.03 EPS for the current fiscal year.

In related news, CEO H.P. Jin bought 10,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the acquisition, the chief executive officer now owns 1,389,854 shares in the company, valued at $7,046,559.78. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 24.67% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in TNAV. Northern Trust Corp boosted its holdings in shares of Telenav by 2.2% in the 2nd quarter. Northern Trust Corp now owns 336,292 shares of the technology company’s stock worth $2,724,000 after purchasing an additional 7,356 shares during the period. Voya Investment Management LLC purchased a new position in Telenav during the 2nd quarter valued at $111,000. State Street Corp boosted its holdings in Telenav by 9.5% during the 2nd quarter. State Street Corp now owns 527,424 shares of the technology company’s stock valued at $4,273,000 after acquiring an additional 45,895 shares during the period. Prudential Financial Inc. boosted its holdings in Telenav by 28.4% during the 3rd quarter. Prudential Financial Inc. now owns 69,535 shares of the technology company’s stock valued at $442,000 after acquiring an additional 15,400 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Telenav by 28.9% during the 3rd quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock valued at $2,205,000 after acquiring an additional 77,900 shares during the period. Hedge funds and other institutional investors own 52.42% of the company’s stock.

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Telenav Company Profile

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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