Telenav (NASDAQ:TNAV) Downgraded by BidaskClub to “Hold”

BidaskClub downgraded shares of Telenav (NASDAQ:TNAV) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

A number of other equities research analysts have also weighed in on TNAV. B. Riley lowered their target price on shares of Telenav from $10.50 to $7.50 and set a buy rating on the stock in a report on Friday, September 6th. ValuEngine downgraded Telenav from a hold rating to a sell rating in a research note on Wednesday, October 30th. Zacks Investment Research upgraded Telenav from a hold rating to a buy rating and set a $12.00 price target for the company in a research note on Friday, August 16th. Craig Hallum lowered Telenav from a buy rating to a hold rating and decreased their price objective for the stock from $13.00 to $5.00 in a report on Thursday, September 5th. Finally, Northland Securities reissued a hold rating on shares of Telenav in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $8.88.

Shares of TNAV stock opened at $5.33 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a fifty day simple moving average of $4.95 and a two-hundred day simple moving average of $7.10. Telenav has a 12 month low of $3.35 and a 12 month high of $11.67.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $64.46 million for the quarter, compared to analyst estimates of $62.58 million. Telenav had a negative net margin of 13.32% and a negative return on equity of 25.93%. As a group, analysts predict that Telenav will post -0.41 earnings per share for the current year.

In related news, CEO H.P. Jin acquired 50,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $4.94 per share, for a total transaction of $247,000.00. Following the purchase, the chief executive officer now owns 2,273,927 shares in the company, valued at $11,233,199.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.32% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in TNAV. Acadian Asset Management LLC grew its position in Telenav by 1,392.2% in the 2nd quarter. Acadian Asset Management LLC now owns 247,400 shares of the technology company’s stock worth $1,979,000 after purchasing an additional 230,820 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in shares of Telenav during the 2nd quarter worth approximately $81,000. Menta Capital LLC bought a new position in shares of Telenav during the 2nd quarter worth approximately $94,000. Ellington Management Group LLC purchased a new position in shares of Telenav in the 2nd quarter worth approximately $184,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Telenav in the 3rd quarter worth approximately $64,000. Institutional investors and hedge funds own 51.24% 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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