Telenav (TNAV) Cut to Hold at BidaskClub
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Telenav from a hold rating to a buy rating and set a $5.00 price objective for the company in a research note on Tuesday, January 29th. ValuEngine raised shares of Telenav from a hold rating to a buy rating in a research note on Thursday, February 28th.
Shares of NASDAQ TNAV opened at $6.09 on Friday. The firm has a market capitalization of $277.35 million, a PE ratio of -3.12 and a beta of 0.98. Telenav has a 1 year low of $3.35 and a 1 year high of $7.00.
In related news, Director Nokomis Capital, L.L.C. bought 50,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was purchased at an average price of $5.04 per share, for a total transaction of $254,016.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 257,251 shares of company stock valued at $1,453,157. 24.82% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc boosted its position in shares of Telenav by 9.3% during the third quarter. Vanguard Group Inc now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after acquiring an additional 144,495 shares during the last quarter. BlackRock Inc. boosted its position in shares of Telenav by 1.3% during the third quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock worth $8,526,000 after acquiring an additional 22,342 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Telenav by 47.7% during the fourth quarter. Rhumbline Advisers now owns 41,745 shares of the technology company’s stock worth $169,000 after acquiring an additional 13,477 shares during the last quarter. B. Riley Wealth Management Inc. bought a new position in Telenav during the third quarter valued at $72,000. Finally, Vanguard Group Inc. lifted its position in Telenav by 9.3% during the third quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after purchasing an additional 144,495 shares during the last quarter. Hedge funds and other institutional investors own 48.99% of the company’s stock.
Telenav Company Profile
Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.
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