Zacks Investment Research cut shares of iPass (NASDAQ:IPAS) from a hold rating to a sell rating in a report published on Tuesday morning.

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 equities research analysts have also commented on IPAS. ValuEngine upgraded shares of iPass from a hold rating to a buy rating in a report on Friday, July 6th. Maxim Group restated a buy rating and set a $1.00 price objective on shares of iPass in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. iPass presently has a consensus rating of Hold and a consensus target price of $1.47.

Shares of NASDAQ IPAS opened at $0.24 on Tuesday. The firm has a market cap of $24.82 million, a PE ratio of -0.77 and a beta of 0.13. iPass has a twelve month low of $0.23 and a twelve month high of $0.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of -3.08.

iPass (NASDAQ:IPAS) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $10.54 million for the quarter, compared to the consensus estimate of $12.90 million. iPass had a negative return on equity of 130,046.80% and a negative net margin of 40.13%. equities analysts anticipate that iPass will post -0.17 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Manatuck Hill Partners LLC raised its holdings in shares of iPass by 133.3% during the second quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock worth $362,000 after acquiring an additional 600,000 shares during the period. Perkins Capital Management Inc. acquired a new stake in shares of iPass during the second quarter worth $566,000. Pratt Collard Advisory Partners LLC raised its holdings in shares of iPass by 8.2% during the second quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock worth $617,000 after acquiring an additional 135,600 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of iPass by 8.0% during the second quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock worth $1,225,000 after acquiring an additional 262,210 shares during the period. Institutional investors and hedge funds own 19.38% of the company’s stock.

iPass Company Profile

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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