iPass Inc. (NASDAQ:IPAS) had its price objective lowered by Aegis from $2.75 to $1.40 in a research note issued to investors on Wednesday morning, Marketbeat reports. Aegis currently has a buy rating on the technology company’s stock.

Several other equities analysts have also weighed in on the company. Maxim Group restated a buy rating and set a $3.00 target price on shares of iPass in a report on Tuesday, May 23rd. ValuEngine lowered iPass from a hold rating to a sell rating in a report on Monday, July 24th. Finally, Zacks Investment Research lowered iPass from a hold rating to a sell rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. iPass currently has an average rating of Hold and an average target price of $2.28.

iPass (NASDAQ:IPAS) traded down 7.81% during midday trading on Wednesday, hitting $0.59. The stock had a trading volume of 689,069 shares. The company’s 50-day moving average price is $0.66 and its 200 day moving average price is $1.13. iPass has a 12-month low of $0.51 and a 12-month high of $1.89. The stock’s market cap is $39.34 million.

iPass (NASDAQ:IPAS) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. The firm had revenue of $13.47 million for the quarter. On average, equities research analysts predict that iPass will post ($0.25) earnings per share for the current fiscal year.

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In related news, CEO Gary A. Griffiths bought 100,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $0.56 per share, for a total transaction 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 $572,600. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in iPass by 0.6% during the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock valued at $3,690,000 after buying an additional 19,806 shares in the last quarter. Royce & Associates LP raised its holdings in iPass by 29.7% during the second quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock valued at $1,096,000 after buying an additional 190,000 shares in the last quarter. Abbrea Capital LLC raised its holdings in iPass by 3.5% during the second quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock valued at $430,000 after buying an additional 11,000 shares in the last quarter. P.A.W. Capital Corp bought a new position in iPass during the second quarter valued at about $271,000. Finally, Sterling Capital Management LLC bought a new position in iPass during the second quarter valued at about $228,000. Institutional investors own 23.36% of the company’s stock.

About iPass

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.

Analyst Recommendations for iPass (NASDAQ:IPAS)

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