iPass’ (IPAS) “Buy” Rating Reiterated at Aegis
iPass Inc. (NASDAQ:IPAS)‘s stock had its “buy” rating reiterated by equities researchers at Aegis in a note issued to investors on Thursday.
Several other brokerages also recently weighed in on IPAS. Chardan Capital raised shares of iPass from a “neutral” rating to a “buy” rating and set a $2.00 target price for the company in a report on Thursday, August 4th. Maxim Group started coverage on shares of iPass in a report on Wednesday, October 19th. They issued a “buy” rating and a $3.00 target price for the company.
iPass (NASDAQ:IPAS) traded down 0.7654% during midday trading on Thursday, reaching $1.6076. 14,340 shares of the company traded hands. The company’s market cap is $106.52 million. iPass has a 12-month low of $0.81 and a 12-month high of $1.89. The company has a 50-day moving average price of $1.65 and a 200-day moving average price of $1.47.
iPass (NASDAQ:IPAS) last issued its earnings results on Thursday, November 3rd. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The company earned $15.90 million during the quarter, compared to the consensus estimate of $16.03 million. iPass had a negative net margin of 13.91% and a negative return on equity of 43.80%. On average, analysts predict that iPass will post ($0.12) earnings per share for the current fiscal year.
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In related news, CEO Gary A. Griffiths acquired 40,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was acquired at an average price of $1.53 per share, with a total value of $61,200.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adirondack Research & Management Inc. increased its position in iPass by 1.5% in the second quarter. Adirondack Research & Management Inc. now owns 3,002,930 shares of the company’s stock valued at $3,724,000 after buying an additional 45,476 shares during the period. BlackRock Fund Advisors increased its position in iPass by 14.1% in the second quarter. BlackRock Fund Advisors now owns 177,690 shares of the company’s stock valued at $220,000 after buying an additional 21,972 shares during the period. Finally, Vanguard Group Inc. increased its position in iPass by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,180,536 shares of the company’s stock valued at $2,704,000 after buying an additional 28,600 shares during the period. 30.07% of the stock is owned by institutional investors and hedge funds.
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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