Telenav (NASDAQ:TNAV) issued its quarterly earnings results on Thursday. The technology company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.14, Fidelity Earnings reports. Telenav had a negative net margin of 83.93% and a negative return on equity of 129.39%. The business had revenue of $52.17 million during the quarter, compared to the consensus estimate of $51.74 million. Telenav updated its Q2 2019 guidance to EPS.
TNAV stock traded down $0.20 during midday trading on Friday, reaching $4.14. The company had a trading volume of 118,996 shares, compared to its average volume of 72,805. Telenav has a 1 year low of $4.08 and a 1 year high of $6.60. The company has a market cap of $199.54 million, a price-to-earnings ratio of -2.12 and a beta of 0.79.
A number of hedge funds have recently added to or reduced their stakes in the business. Divisar Capital Management LLC lifted its position in Telenav by 2.0% in the 2nd quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock worth $21,891,000 after buying an additional 78,021 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Telenav by 1.3% during the 3rd quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock valued at $8,526,000 after purchasing an additional 22,342 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Telenav by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,285,015 shares of the technology company’s stock valued at $6,939,000 after purchasing an additional 17,675 shares in the last quarter. Wasatch Advisors Inc. bought a new position in shares of Telenav during the 3rd quarter valued at $2,706,000. Finally, Northern Trust Corp raised its holdings in shares of Telenav by 5.7% during the 2nd quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock valued at $1,960,000 after purchasing an additional 18,858 shares in the last quarter. Institutional investors own 51.79% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, August 14th. BidaskClub upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, B. Riley reiterated a “buy” rating on shares of Telenav in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $8.33.
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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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