ValuEngine Lowers Telenav (NASDAQ:TNAV) to Sell

Telenav (NASDAQ:TNAV) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

Several other brokerages have also recently commented on TNAV. BidaskClub cut shares of Telenav from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 5th. B. Riley decreased their price target on shares of Telenav from $10.50 to $7.50 and set a “buy” rating on the stock in a research note on Friday, September 6th. Craig Hallum cut shares of Telenav from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.00 to $5.00 in a research note on Thursday, September 5th. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 16th. Finally, Northland Securities cut shares of Telenav from an “outperform” rating to a “market perform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.88.

Telenav stock traded up $0.15 during mid-day trading on Tuesday, hitting $4.73. The stock had a trading volume of 473,467 shares, compared to its average volume of 478,494. The firm has a market capitalization of $228.50 million, a P/E ratio of -7.28 and a beta of 0.39. The firm’s 50 day moving average is $6.27 and its 200 day moving average is $7.48. Telenav has a one year low of $3.35 and a one year high of $11.67.

Telenav (NASDAQ:TNAV) last issued its earnings results on Thursday, August 8th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The firm had revenue of $58.45 million during the quarter, compared to the consensus estimate of $53.27 million. Telenav had a negative return on equity of 31.39% and a negative net margin of 14.88%. On average, research analysts predict that Telenav will post -0.32 earnings per share for the current year.

In other Telenav news, Director Douglas S. Miller sold 23,300 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $11.46, for a total value of $267,018.00. Following the sale, the director now owns 35,527 shares in the company, valued at approximately $407,139.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Philipp Wolfgang Josef Kandal sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $9.35, for a total transaction of $93,500.00. Following the completion of the sale, the senior vice president now owns 199,113 shares in the company, valued at approximately $1,861,706.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 521,404 shares of company stock worth $5,462,082. Corporate insiders own 21.32% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP purchased a new stake in shares of Telenav during the 2nd quarter valued at about $1,993,000. Royal Bank of Canada raised its position in shares of Telenav by 42.1% during the 2nd quarter. Royal Bank of Canada now owns 6,562 shares of the technology company’s stock valued at $52,000 after buying an additional 1,945 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Telenav by 57.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,826 shares of the technology company’s stock valued at $263,000 after buying an additional 11,978 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Telenav during the 2nd quarter valued at about $794,000. Finally, Vanguard Group Inc. raised its position in shares of Telenav by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,789,480 shares of the technology company’s stock valued at $14,316,000 after buying an additional 20,225 shares in the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

About Telenav

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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