What Next for Telenav Inc (TNAV) After Forming Bullish Descending Triangle Chart Pattern?

July 17, 2017 - By Marguerite Chambers

Investors sentiment decreased to 0.91 in Q4 2016. Its down 0.27, from 1.18 in 2016Q3. It dived, as 7 investors sold Telenav Inc shares while 26 reduced holdings. 9 funds opened positions while 21 raised stakes. 18.38 million shares or 2.76% more from 17.88 million shares in 2016Q3 were reported.
The New York-based Prelude Cap Management Limited has invested 0.07% in Telenav Inc (NASDAQ:TNAV). Equitec Proprietary Ltd Liability holds 0.08% or 297,036 shares. Panagora Asset Mngmt stated it has 2,441 shares or 0% of all its holdings. White Pine Capital Llc reported 0.22% stake. Deutsche Bankshares Ag accumulated 29,724 shares. Bnp Paribas Arbitrage Sa has invested 0% in Telenav Inc (NASDAQ:TNAV). Lyon Street Capital Ltd Limited Liability Company reported 0.94% stake. Ny State Common Retirement Fund holds 0% or 389,805 shares. Amer Group Inc Incorporated Inc invested 0% of its portfolio in Telenav Inc (NASDAQ:TNAV). Axa holds 217,080 shares. California Public Employees Retirement Systems has 0% invested in Telenav Inc (NASDAQ:TNAV) for 43,400 shares. California State Teachers Retirement Sys invested 0% in Telenav Inc (NASDAQ:TNAV). 409,401 were accumulated by Blackrock Institutional Tru Co Na. Blackrock Advsrs Limited Com has 17,981 shares for 0% of their portfolio. Northern Corp has invested 0% in Telenav Inc (NASDAQ:TNAV).

Since May 5, 2017, it had 1 insider buy, and 3 sales for $154,179 activity. Francis Karen C also bought $21,250 worth of Telenav Inc (NASDAQ:TNAV) shares. $46,895 worth of Telenav Inc (NASDAQ:TNAV) was sold by Berg Evan. $86,998 worth of stock was sold by Strambi Michael on Friday, May 5.

The stock of Telenav Inc (TNAV) formed a descending triangle with $8.60 target or 3.00 % above today’s $8.35 share price. The 6 months triangle pattern indicates low risk for the $367.37M company. If the $8.60 price target is reached, the company will be worth $11.02M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.60% or $0.05 during the last trading session, reaching $8.35. About 93,417 shares traded. Telenav Inc (NASDAQ:TNAV) has risen 88.62% since July 17, 2016 and is uptrending. It has outperformed by 71.92% the S&P500.

Analysts expect Telenav Inc (NASDAQ:TNAV) to report $-0.27 EPS on August, 1.They anticipate $0.08 EPS change or 42.11 % from last quarter’s $-0.19 EPS. After having $-0.31 EPS previously, Telenav Inc’s analysts see -12.90 % EPS growth.

Telenav Inc (NASDAQ:TNAV) Ratings Coverage

Among 4 analysts covering Telenav (NASDAQ:TNAV), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Telenav had 4 analyst reports since August 24, 2015 according to SRatingsIntel. Northland Capital maintained it with “Buy” rating and $1500 target in Monday, July 10 report. The firm has “Outperform” rating given on Monday, October 17 by FBR Capital. The rating was downgraded by Sidoti on Friday, January 20 to “Neutral”. The stock of Telenav Inc (NASDAQ:TNAV) earned “Buy” rating by B. Riley & Co on Monday, August 24.

Another recent and important Telenav Inc (NASDAQ:TNAV) news was published by Streetinsider.com which published an article titled: “Form 4 Telenav, Inc. For: Jul 10 Filed by: Berg Evan” on July 11, 2017.

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