Shares of iPass (NASDAQ:IPAS) were down 0% on Tuesday . The company traded as low as $0.36 and last traded at $0.36. Approximately 1,033,187 shares changed hands during trading, an increase of 109% from the average daily volume of 495,261 shares. The stock had previously closed at $0.36.
IPAS has been the subject of several recent analyst reports. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. ValuEngine upgraded iPass from a “sell” rating to a “hold” rating in a research report on Saturday. Maxim Group set a $2.00 price objective on iPass and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Roth Capital initiated coverage on iPass in a research report on Wednesday, January 17th. They set a “buy” rating and a $2.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $2.10.
The stock has a market capitalization of $28.18, a price-to-earnings ratio of -1.16 and a beta of 0.02.
A hedge fund recently raised its stake in iPass stock. Northern Trust Corp boosted its position in iPass (NASDAQ:IPAS) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,999 shares of the technology company’s stock after purchasing an additional 3,058 shares during the period. Northern Trust Corp owned 0.20% of iPass worth $173,000 at the end of the most recent quarter. Institutional investors and hedge funds own 17.77% of the company’s stock.
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iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.
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