AutoNavi Holdings Ltd (NASDAQ: AMAP) was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday.
Separately, analysts at Jefferies Group (NYSE: JEF) downgraded shares of AutoNavi Holdings Ltd from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 18th. They now have a $12.00 price target on the stock.
AutoNavi Holdings Limited (AutoNavi) through its subsidiaries is primarily engaged in providing digital map content, navigation and location-based solutions in the People’s Republic of China. Its core business is a nationwide digital map database that covers approximately 2.8 million kilometers of roadway and over 12.5 million points of interest across China. In addition, it has completed three-dimensional (3-D) navigation maps of key areas in 19 major cities and photo-realistic 3-D models of 16 cities for government related projects. AutoNavi has also built a technology platform that enables it to develop solutions for its customers. The Company derived its revenues primarily from licensing its digital map data for use in in-dash navigation systems for automobiles and its navigation solutions for use in portable navigation devices. The Company also derives revenues through providing solutions to public sector and enterprise customers, including aerial photogrammetry solutions.
Shares of AutoNavi Holdings Ltd opened at 10.57 on Wednesday. AutoNavi Holdings Ltd has a 52 week low of $8.87 and a 52 week high of $20.20. The stock’s 50-day moving average is $10.23 and its 200-day moving average is $13.02. The company has a market cap of $503.1 million and a P/E ratio of 15.14.