iPass Inc. (NASDAQ:IPAS) CEO Gary A. Griffiths bought 100,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $0.56 per share, with a total value of $56,000.00. Following the completion of the purchase, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at approximately $572,600. The acquisition was disclosed in a filing with the SEC, which is available through this link.
iPass Inc. (IPAS) traded down 1.8072% during midday trading on Thursday, reaching $0.5705. The company’s stock had a trading volume of 328,113 shares. iPass Inc. has a 52-week low of $0.53 and a 52-week high of $1.89. The firm’s market cap is $37.46 million. The firm has a 50 day moving average of $1.18 and a 200 day moving average of $1.28.
iPass (NASDAQ:IPAS) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.05. iPass had a negative return on equity of 69.91% and a negative net margin of 20.49%. The firm had revenue of $13.47 million during the quarter. Analysts anticipate that iPass Inc. will post ($0.11) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Abbrea Capital LLC raised its position in iPass by 46.5% in the first quarter. Abbrea Capital LLC now owns 315,000 shares of the technology company’s stock worth $369,000 after buying an additional 100,000 shares in the last quarter. Royce & Associates LP bought a new position in iPass during the first quarter worth $749,000. Renaissance Technologies LLC raised its position in iPass by 0.6% in the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock worth $3,690,000 after buying an additional 19,806 shares in the last quarter. P.A.W. Capital Corp bought a new position in iPass during the second quarter worth $271,000. Finally, Emancipation Management LLC bought a new position in iPass during the second quarter worth $228,000. Institutional investors own 24.14% of the company’s stock.
IPAS has been the subject of a number of research reports. Benchmark Co. initiated coverage on iPass in a research report on Tuesday, April 25th. They issued a “buy” rating and a $3.00 price objective for the company. Maxim Group set a $3.00 price objective on iPass and gave the stock a “buy” rating in a research report on Thursday, May 4th. Aegis upgraded iPass from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1.35 to $2.75 in a research report on Wednesday, May 24th. Finally, ValuEngine cut iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. iPass has a consensus rating of “Buy” and an average price target of $2.61.
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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