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Shares of Telenav (NASDAQ:TNAV) reached a new 52-week high on Wednesday , American Banking & Market News reports. The stock traded as high as $7.34 and last traded at $7.28, with a volume of 677,991 shares traded. The stock had previously closed at $7.06.

Separately, analysts at Craig Hallum initiated coverage on shares of Telenav in a research note on Tuesday, August 12th. They set a “buy” rating and a $11.00 price target on the stock.

The stock has a 50-day moving average of $5.59 and a 200-day moving average of $5.84. The company’s market cap is $284.5 million.

Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. The company had revenue of $34.40 million for the quarter, compared to the consensus estimate of $38.00 million. The company’s revenue for the quarter was down 27.0% on a year-over-year basis. On average, analysts predict that Telenav will post $-0.70 earnings per share for the current fiscal year.

TeleNav, Inc, formerly TNAV Holdings, Inc is a provider of location based services (NASDAQ:TNAV), including voice guided navigation on mobile phones.

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