BidaskClub downgraded shares of Telenav, Inc. (NASDAQ:TNAV) from a sell rating to a strong sell rating in a research note released on Thursday morning.

A number of other analysts have also commented on TNAV. B. Riley reissued a buy rating and set a $11.00 price objective on shares of Telenav in a report on Monday, July 31st. Northland Securities set a $15.00 price objective on Telenav and gave the stock a buy rating in a report on Monday, July 10th. Zacks Investment Research raised Telenav from a sell rating to a hold rating in a report on Wednesday, July 5th. ValuEngine raised Telenav from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Sidoti raised Telenav from a neutral rating to a buy rating and set a $10.00 price objective for the company in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $12.00.

Telenav (TNAV) traded down 10.71% on Thursday, reaching $6.25. The company’s stock had a trading volume of 313,411 shares. The company’s market cap is $273.34 million. The firm’s 50-day moving average price is $8.12 and its 200 day moving average price is $8.46. Telenav has a 52-week low of $4.68 and a 52-week high of $10.15.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. The firm had revenue of $40.29 million during the quarter, compared to analyst estimates of $39.87 million. Telenav had a negative return on equity of 30.87% and a negative net margin of 27.87%. The company’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) EPS. Equities analysts anticipate that Telenav will post ($0.72) EPS for the current fiscal year.

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In other news, CFO Michael Strambi sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $8.31, for a total value of $41,550.00. Following the completion of the transaction, the chief financial officer now directly owns 37,613 shares of the company’s stock, valued at $312,564.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 24.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. acquired a new position in Telenav during the first quarter valued at about $106,000. Parkwood LLC raised its position in Telenav by 42.5% in the first quarter. Parkwood LLC now owns 14,680 shares of the technology company’s stock valued at $127,000 after buying an additional 4,375 shares in the last quarter. Nordea Investment Management AB acquired a new position in Telenav during the first quarter valued at about $128,000. ClariVest Asset Management LLC acquired a new position in Telenav during the first quarter valued at about $128,000. Finally, Thompson Davis & CO. Inc. raised its position in Telenav by 4.9% in the first quarter. Thompson Davis & CO. Inc. now owns 14,950 shares of the technology company’s stock valued at $129,000 after buying an additional 700 shares in the last quarter. 51.58% of the stock is owned by institutional investors.

Telenav Company Profile

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

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