Dawson James started coverage on shares of iPass (NASDAQ:IPAS) in a report published on Tuesday morning, The Fly reports. The brokerage issued a buy rating and a $3.00 price objective on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of iPass from a hold rating to a sell rating in a research note on Tuesday, August 14th. Maxim Group reaffirmed a buy rating and set a $12.50 target price on shares of iPass in a research note on Thursday, July 19th. Finally, ValuEngine downgraded shares of iPass from a buy rating to a hold rating in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $11.75.

Shares of IPAS opened at $2.00 on Tuesday. iPass has a fifty-two week low of $1.76 and a fifty-two week high of $8.90. The company has a debt-to-equity ratio of -3.08, a quick ratio of 1.26 and a current ratio of 1.26.

iPass (NASDAQ:IPAS) last announced its earnings results on Wednesday, August 8th. The technology company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.20). iPass had a negative return on equity of 130,046.80% and a negative net margin of 40.13%. The business had revenue of $10.54 million for the quarter, compared to analysts’ expectations of $12.90 million. analysts expect that iPass will post -1.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manatuck Hill Partners LLC grew its holdings in iPass by 133.3% during the 2nd 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 in the last quarter. Perkins Capital Management Inc. acquired a new position in iPass during the 2nd quarter worth approximately $566,000. Pratt Collard Advisory Partners LLC grew its holdings in iPass by 8.2% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in iPass by 8.0% during the 2nd 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 in the last quarter. Institutional investors own 15.45% of the company’s stock.

About iPass

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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