Telenav Inc. (TNAV) Shares Up 7.5%
Telenav Inc. (NASDAQ:TNAV) shot up 7.5% during trading on Wednesday . The stock traded as high as $5.88 and last traded at $5.85, with a volume of 64,598 shares trading hands. The stock had previously closed at $5.44.
Several brokerages recently commented on TNAV. B. Riley restated a “buy” rating and set a $15.00 target price on shares of Telenav in a research report on Tuesday, May 10th. Zacks Investment Research upgraded Telenav from a “sell” rating to a “hold” rating in a research report on Saturday, June 18th.
The stock has a 50-day moving average of $5.35 and a 200 day moving average of $5.42. The stock’s market cap is $255.81 million.
Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. During the same period last year, the company posted ($0.12) earnings per share. The business earned $47.80 million during the quarter, compared to the consensus estimate of $41.69 million. The business’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts expect that Telenav Inc. will post ($0.58) EPS for the current year.
In other Telenav news, CEO H.P. Jin acquired 7,500 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average cost of $5.35 per share, with a total value of $40,125.00. Following the transaction, the chief executive officer now owns 1,364,769 shares of the company’s stock, valued at approximately $7,301,514.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
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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