NEW YORK ( TheStreet) -- Shares of Telenav (Nasdaq: TNAV) were gapping down Friday morning with an open price 32.9% lower than Thursday's closing price. The stock closed at $17.98 Thursday and opened today's trading at $12.07.

The average volume for Telenav has been 352,900 shares per day over the past 30 days. Telenav has a market cap of $759.1 million and is part of the technology sector and telecommunications industry. Shares are up 147% year to date as of the close of trading on Thursday.

TeleNav, Inc. provides location based services (LBS) for consumers and enterprises in the United States and internationally. The company has a P/E ratio of 18.2, below the average telecommunications industry P/E ratio of 24 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Telenav as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive. You can view the full Telenav Ratings Report.

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Telenav (TNAV) Upgraded From Sell to Hold