Telenav Inc. (TNAV) Trading Up 6.2%
Telenav Inc. (NASDAQ:TNAV) shares were up 6.2% during trading on Friday . The company traded as high as $5.15 and last traded at $5.15, with a volume of 51,095 shares changing hands. The stock had previously closed at $4.85.
A number of research analysts have commented on TNAV shares. B. Riley reaffirmed a “buy” rating and set a $15.00 price target on shares of Telenav in a research report on Tuesday, May 10th. Zacks Investment Research lowered Telenav from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 6th.
The stock’s market capitalization is $219.14 million. The stock has a 50-day moving average of $4.98 and a 200 day moving average of $5.49.
Telenav (NASDAQ:TNAV) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. During the same quarter last year, the business earned ($0.03) earnings per share. The firm earned $46.30 million during the quarter, compared to analysts’ expectations of $44.78 million. The company’s revenue was up 9.5% on a year-over-year basis. On average, equities research analysts expect 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 boosted its stake in Telenav Inc. (NASDAQ:TNAV) by 0.9% during the fourth quarter, Holdings Channel reports. 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 as of its most recent SEC filing.
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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