Telenav (NASDAQ:TNAV) Trading Down 7.3%

Telenav Inc (NASDAQ:TNAV)’s stock price dropped 7.3% during trading on Friday . The company traded as low as $5.75 and last traded at $5.86, approximately 559,866 shares changed hands during mid-day trading. A decline of 7% from the average daily volume of 599,960 shares. The stock had previously closed at $6.32.

A number of equities analysts recently issued reports on the company. ValuEngine lowered Telenav from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Northland Securities reaffirmed a “hold” rating on shares of Telenav in a research note on Thursday, November 21st. BidaskClub raised Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Zacks Investment Research raised Telenav from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research report on Saturday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Telenav currently has a consensus rating of “Hold” and a consensus target price of $7.19.

The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $284.60 million, a price-to-earnings ratio of -13.32 and a beta of 0.41. The firm’s 50 day simple moving average is $4.93 and its 200-day simple moving average is $6.05.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.23. Telenav had a negative net margin of 8.21% and a negative return on equity of 14.42%. The company had revenue of $67.35 million during the quarter, compared to the consensus estimate of $56.26 million. As a group, sell-side analysts forecast that Telenav Inc will post -0.41 EPS for the current fiscal year.

In other news, CEO H.P. Jin purchased 50,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $4.90 per share, for a total transaction of $245,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,273,927 shares in the company, valued at approximately $11,142,242.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 21.32% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Telenav in the 3rd quarter valued at about $141,000. Millennium Management LLC purchased a new position in Telenav in the third quarter valued at about $5,490,000. State Street Corp increased its holdings in Telenav by 22.4% in the third quarter. State Street Corp now owns 752,843 shares of the technology company’s stock valued at $3,599,000 after buying an additional 138,007 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Telenav by 21.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,727 shares of the technology company’s stock valued at $75,000 after acquiring an additional 2,725 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Telenav by 154.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 156,965 shares of the technology company’s stock valued at $751,000 after acquiring an additional 95,173 shares during the period. 51.31% of the stock is owned by institutional investors and hedge funds.

Telenav Company Profile (NASDAQ:TNAV)

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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