iPass Inc. (IPAS) Given Consensus Recommendation of “Hold” by Analysts
Shares of iPass Inc. (NASDAQ:IPAS) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.28.
Several analysts recently commented on the stock. Aegis upgraded shares of iPass from a “hold” rating to a “buy” rating and raised their price target for the company from $1.35 to $2.75 in a research report on Wednesday, May 24th. Maxim Group restated a “buy” rating and set a $3.00 price target on shares of iPass in a research report on Tuesday, May 23rd. ValuEngine lowered shares of iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of iPass from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th.
In related news, CEO Gary A. Griffiths acquired 100,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $0.56 per share, with a total value of $56,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,022,500 shares in the company, valued at approximately $572,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in iPass during the second quarter valued at $100,000. Northern Trust Corp lifted its holdings in iPass by 2.4% during the second quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after purchasing an additional 3,058 shares in the last quarter. Sterling Capital Management LLC purchased a new position in iPass during the second quarter valued at $228,000. Emancipation Management LLC purchased a new position in iPass during the second quarter valued at $228,000. Finally, P.A.W. Capital Corp purchased a new position in iPass during the second quarter valued at $271,000. 23.36% of the stock is currently owned by institutional investors and hedge funds.
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iPass (IPAS) traded up 5.313% on Tuesday, hitting $0.674. 284,447 shares of the company were exchanged. The company’s market capitalization is $44.94 million. The firm’s 50 day moving average is $0.68 and its 200 day moving average is $1.13. iPass has a 52 week low of $0.51 and a 52 week high of $1.89.
iPass (NASDAQ:IPAS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.05). The firm had revenue of $13.47 million for the quarter. iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. On average, equities research analysts forecast that iPass will post ($0.25) earnings per share for the current fiscal year.
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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