Telenav (NASDAQ:TNAV) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Several other research firms also recently issued reports on TNAV. BidaskClub raised Telenav from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Zacks Investment Research raised Telenav from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Thursday, February 14th.

Telenav stock opened at $6.65 on Wednesday. Telenav has a one year low of $3.35 and a one year high of $6.75. The firm has a market capitalization of $275.98 million, a price-to-earnings ratio of -3.41 and a beta of 0.98.

Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, February 7th. The technology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. Telenav had a negative return on equity of 93.98% and a negative net margin of 50.00%. The company had revenue of $57.18 million during the quarter, compared to the consensus estimate of $52.71 million. Equities research analysts expect that Telenav will post -0.62 EPS for the current year.

In other news, Director Nokomis Capital, L.L.C. purchased 37,658 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $6.09 per share, with a total value of $229,337.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 257,251 shares of company stock valued at $1,453,157 in the last ninety days. Corporate insiders own 24.82% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in Telenav by 47.7% in the 4th quarter. Rhumbline Advisers now owns 41,745 shares of the technology company’s stock valued at $169,000 after purchasing an additional 13,477 shares during the last quarter. Geode Capital Management LLC raised its stake in Telenav by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 318,613 shares of the technology company’s stock valued at $1,293,000 after purchasing an additional 13,498 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new position in Telenav in the 3rd quarter valued at about $72,000. Barclays PLC raised its stake in Telenav by 150.3% in the 4th quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after purchasing an additional 17,592 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Telenav by 5.7% in 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 during the last quarter. 48.99% of the stock is owned by hedge funds and other institutional investors.

Telenav Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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