iPass (IPAS) Stock Rating Upgraded by Zacks Investment Research

iPass (NASDAQ:IPAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

Several other brokerages have also recently weighed in on IPAS. Maxim Group reiterated a “buy” rating and set a $2.00 price target on shares of iPass in a research note on Thursday, September 14th. Aegis dropped their price target on shares of iPass from $2.75 to $1.40 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $2.28.

Shares of iPass (NASDAQ:IPAS) traded up $0.02 during trading on Wednesday, hitting $0.55. 504,500 shares of the stock traded hands, compared to its average volume of 470,233. The stock has a market cap of $36.37, a PE ratio of -2.04 and a beta of -0.34. iPass has a 1-year low of $0.49 and a 1-year high of $1.63.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new position in shares of iPass during the 2nd quarter valued at $100,000. Northern Trust Corp lifted its stake in shares of iPass by 2.4% during the 2nd 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 in the last quarter. Sterling Capital Management LLC purchased a new position in shares of iPass during the 2nd quarter valued at $228,000. Emancipation Management LLC purchased a new position in shares of iPass during the 2nd quarter valued at $228,000. Finally, P.A.W. Capital Corp lifted its stake in shares of iPass by 143.9% during the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock valued at $330,000 after buying an additional 295,000 shares in the last quarter. Institutional investors own 26.58% of the company’s stock.

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About iPass

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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