Telenav Inc. (TNAV) Shares Up 7.5%
Telenav Inc. (NASDAQ:TNAV) shot up 7.5% during mid-day trading on Wednesday . The stock traded as high as $5.88 and last traded at $5.85, with a volume of 64,598 shares traded. The stock had previously closed at $5.44.
Several research firms recently issued reports on TNAV. B. Riley restated a “buy” rating and set a $10.00 price objective on shares of Telenav in a research report on Saturday, August 6th. Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, July 1st.
The company’s market capitalization is $248.99 million. The firm’s 50 day moving average price is $5.32 and its 200 day moving average price is $5.42.
Telenav (NASDAQ:TNAV) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. During the same period last year, the company earned ($0.12) earnings per share. The company had revenue of $47.80 million for the quarter, compared to analyst estimates of $41.69 million. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Telenav Inc. will post ($0.58) EPS for the current year.
In related news, CEO H.P. Jin purchased 7,500 shares of the stock in a transaction dated 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 purchase, the chief executive officer now directly owns 1,364,769 shares in the company, valued at approximately $7,301,514.15. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
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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