iPass Inc. (IPAS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of iPass Inc. (NASDAQ:IPAS) from a sell rating to a hold rating in a research note released on Friday.
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. “
IPAS has been the topic of several other research reports. Maxim Group set a $2.00 price objective on iPass and gave the stock a buy rating in a research note on Thursday, August 3rd. ValuEngine downgraded iPass from a hold rating to a sell rating in a research note on Monday, July 24th. Finally, Aegis dropped their price objective on iPass from $2.75 to $1.40 and set a buy rating on the stock in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $2.28.
iPass (NASDAQ IPAS) opened at 0.59 on Friday. The stock’s 50 day moving average price is $0.63 and its 200-day moving average price is $1.12. iPass has a one year low of $0.51 and a one year high of $1.89. The stock’s market cap is $39.34 million.
iPass (NASDAQ:IPAS) last issued its quarterly earnings data 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 business had revenue of $13.47 million for the quarter. iPass had a negative return on equity of 78.31% and a negative net margin of 20.49%. On average, analysts predict that iPass will post ($0.24) earnings per share for the current year.
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In other news, CEO Gary A. Griffiths purchased 100,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $0.56 per share, with a total value of $56,000.00. Following the purchase, the chief executive officer now directly owns 1,022,500 shares of the company’s stock, valued at approximately $572,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IPAS. Royce & Associates LP acquired a new stake in shares of iPass in the 1st quarter valued at about $749,000. Renaissance Technologies LLC raised its stake in shares of iPass by 0.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock valued at $3,690,000 after purchasing an additional 19,806 shares during the period. P.A.W. Capital Corp acquired a new stake in shares of iPass in the 2nd quarter valued at about $271,000. Abbrea Capital LLC raised its stake in shares of iPass by 3.5% in the 2nd quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock valued at $430,000 after purchasing an additional 11,000 shares during the period. Finally, Emancipation Management LLC acquired a new stake in shares of iPass in the 2nd quarter valued at about $228,000. 23.36% of the stock is currently owned by hedge funds and other institutional investors.
iPass Company Profile
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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