Telenav Inc (NASDAQ:TNAV) saw a significant increase in short interest in November. As of November 29th, there was short interest totalling 1,620,000 shares, an increase of 6.6% from the November 14th total of 1,520,000 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily volume of 596,400 shares, the days-to-cover ratio is presently 2.7 days.

TNAV has been the subject of several recent research reports. Craig Hallum cut Telenav from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.00 to $5.00 in a research report on Thursday, September 5th. 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 report on Friday, August 16th. Northland Securities reiterated a “hold” rating on shares of Telenav in a research report on Thursday, November 21st. ValuEngine cut Telenav from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Finally, BidaskClub cut Telenav from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.88.

Telenav stock opened at $4.77 on Friday. Telenav has a 52 week low of $3.35 and a 52 week high of $11.67. The business has a 50-day simple moving average of $5.04 and a 200 day simple moving average of $7.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.92 and a current ratio of 1.92.

Telenav (NASDAQ:TNAV) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Telenav had a negative return on equity of 25.93% and a negative net margin of 13.32%. The business had revenue of $64.46 million during the quarter, compared to analysts’ expectations of $62.58 million. Analysts forecast that Telenav will post -0.41 EPS for the current fiscal year.

In related news, CEO H.P. Jin purchased 50,000 shares of Telenav stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $4.90 per share, for a total transaction of $245,000.00. Following the completion of the transaction, the chief executive officer now owns 2,273,927 shares in the company, valued at $11,142,242.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.32% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of TNAV. Strs Ohio grew its position in Telenav by 173.6% during the second quarter. Strs Ohio now owns 73,600 shares of the technology company’s stock worth $588,000 after buying an additional 46,700 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in Telenav during the second quarter worth about $158,000. Wasatch Advisors Inc. grew its position in Telenav by 68.0% during the second quarter. Wasatch Advisors Inc. now owns 578,138 shares of the technology company’s stock worth $4,625,000 after buying an additional 233,945 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Telenav by 68.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,307 shares of the technology company’s stock worth $442,000 after buying an additional 22,425 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in Telenav during the second quarter worth about $94,000. Institutional investors and hedge funds own 51.30% 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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