Telenav, Inc. (NASDAQ:TNAV) has earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.00.
A number of equities research analysts recently weighed in on TNAV shares. Zacks Investment Research downgraded shares of Telenav from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. B. Riley reissued a “buy” rating and set a $11.00 price target on shares of Telenav in a research note on Monday, October 30th. BidaskClub raised shares of Telenav from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, ValuEngine downgraded shares of Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
Telenav (TNAV) remained flat at $$4.85 during mid-day trading on Thursday. 27,711 shares of the company traded hands, compared to its average volume of 74,186. Telenav has a 12-month low of $4.70 and a 12-month high of $10.15.
Several institutional investors have recently modified their holdings of TNAV. Divisar Capital Management LLC grew its holdings in shares of Telenav by 26.6% in the second quarter. Divisar Capital Management LLC now owns 2,640,381 shares of the technology company’s stock worth $21,387,000 after purchasing an additional 554,399 shares during the last quarter. B. Riley Financial Inc. boosted its holdings in Telenav by 131.7% in the third quarter. B. Riley Financial Inc. now owns 869,660 shares of the technology company’s stock valued at $5,522,000 after acquiring an additional 494,267 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Telenav by 15.0% in the first quarter. Vanguard Group Inc. now owns 1,200,607 shares of the technology company’s stock valued at $10,385,000 after acquiring an additional 156,248 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Telenav by 28.9% in the third quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock valued at $2,205,000 after acquiring an additional 77,900 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its holdings in Telenav by 44.4% in the third quarter. Essex Investment Management Co. LLC now owns 244,268 shares of the technology company’s stock valued at $1,551,000 after acquiring an additional 75,088 shares in the last quarter. Hedge funds and other institutional investors own 53.75% of the company’s stock.
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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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