iPass Inc. (IPAS) Receives Consensus Rating of “Hold” from Brokerages
Shares of iPass Inc. (NASDAQ:IPAS) have been given an average rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $2.28.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Maxim Group reiterated a “buy” rating and issued a $2.00 price target on shares of iPass in a report on Thursday, September 14th. Aegis reduced 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 downgraded iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th.
Shares of iPass (NASDAQ IPAS) traded up 0.4247% during midday trading on Friday, hitting $0.7331. The stock had a trading volume of 55,005 shares. iPass has a 52-week low of $0.51 and a 52-week high of $1.89. The company’s market cap is $48.88 million. The company’s 50 day moving average is $0.61 and its 200 day moving average is $1.07.
iPass (NASDAQ:IPAS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). iPass had a negative return on equity of 78.31% and a negative net margin of 20.49%. The business had revenue of $13.47 million during the quarter. On average, analysts anticipate that iPass will post ($0.24) earnings per share for the current year.
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In other news, CEO Gary A. Griffiths acquired 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought 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 directly owns 1,022,500 shares in the company, valued at $572,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. P.A.W. Capital Corp bought a new position in iPass in the second quarter worth approximately $271,000. Renaissance Technologies LLC grew its stake 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 purchasing an additional 19,806 shares in the last quarter. Royce & Associates LP grew its stake in iPass by 29.7% in the second quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock worth $1,096,000 after purchasing an additional 190,000 shares in the last quarter. Abbrea Capital LLC grew its stake in iPass by 3.5% in the second quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock worth $430,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Emancipation Management LLC bought a new position in iPass in the second quarter worth approximately $228,000. 23.36% of the stock is currently owned by institutional investors.
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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