iPass Inc. (NASDAQ:IPAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “iPass Inc provides software-enabled enterprise connectivity services for mobile workers. iPass’ primary service is designed to enable enterprises to provide their employees with secure access to the enterprise’s internal network through an easy-to-use interface. “
A number of other analysts have also commented on IPAS. Maxim Group reiterated a “buy” rating and set a $2.00 price target on shares of iPass in a report on Thursday, September 14th. Aegis dropped their price target on iPass from $2.75 to $1.40 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Finally, ValuEngine lowered iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. iPass has a consensus rating of “Hold” and a consensus price target of $2.28.
Shares of iPass (NASDAQ IPAS) traded up 5.34% during midday trading on Friday, hitting $0.59. The stock had a trading volume of 147,998 shares. The company’s 50 day moving average is $0.63 and its 200 day moving average is $1.12. The firm’s market cap is $39.34 million. iPass has a 52 week low of $0.51 and a 52 week high of $1.89.
iPass (NASDAQ:IPAS) last posted its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. The company had revenue of $13.47 million during the quarter. On average, equities analysts predict that iPass will post ($0.24) earnings per share for the current fiscal year.
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In other iPass news, CEO Gary A. Griffiths purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $0.56 per share, for a total transaction of $56,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at approximately $572,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of IPAS. Susquehanna International Group LLP bought a new stake in shares of iPass in the second quarter valued at $100,000. Northern Trust Corp raised its stake in shares of iPass by 2.4% in the second quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after buying an additional 3,058 shares during the period. Sterling Capital Management LLC bought a new stake in shares of iPass in the second quarter valued at $228,000. Emancipation Management LLC bought a new stake in shares of iPass in the second quarter valued at $228,000. Finally, P.A.W. Capital Corp bought a new stake in shares of iPass in the second quarter valued at $271,000. Institutional investors and hedge funds own 23.36% of the company’s stock.
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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