Telenav Inc. (TNAV) Sees Unusually-High Trading Volume
Shares of Telenav Inc. (NASDAQ:TNAV) saw strong trading volume on Wednesday . 63,257 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 74,245 shares.The stock last traded at $5.39 and had previously closed at $5.29.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. B. Riley reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Telenav in a research report on Tuesday, May 10th.
The firm’s 50-day moving average price is $5.03 and its 200-day moving average price is $5.47. The company’s market capitalization is $228.50 million.
Telenav (NASDAQ:TNAV) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $44.78 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that Telenav Inc. will post ($0.63) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Telenav stock. Dimensional Fund Advisors LP increased its position in shares of Telenav Inc. (NASDAQ:TNAV) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,610 shares of the company’s stock after buying an additional 10,334 shares during the period. Dimensional Fund Advisors LP owned about 2.92% of Telenav worth $6,877,000 at the end of the most recent quarter.
TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.
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