Telenav Inc. (TNAV) Trading Up 6.2%
Shares of Telenav Inc. (NASDAQ:TNAV) were up 6.2% on Friday . The stock traded as high as $5.15 and last traded at $5.15, with a volume of 51,095 shares traded. The stock had previously closed at $4.85.
Several analysts recently weighed in on TNAV shares. Zacks Investment Research downgraded Telenav from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Telenav in a research report on Tuesday, May 10th.
The company’s 50-day moving average is $4.98 and its 200-day moving average is $5.49. The stock’s market capitalization is $219.14 million.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. The firm earned $46.30 million during the quarter, compared to the consensus estimate of $44.78 million. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. Analysts anticipate that Telenav Inc. will post ($0.63) EPS for the current fiscal year.
An institutional investor recently raised its position in Telenav stock. Dimensional Fund Advisors LP raised its stake in Telenav Inc. (NASDAQ:TNAV) by 0.9% during the fourth quarter, Holdings Channel reports. The fund 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 2.92% of Telenav worth $6,877,000 as of its most recent filing with the SEC.
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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