iPass Inc. (IPAS) Given Buy Rating at Maxim Group
Maxim Group reiterated their buy rating on shares of iPass Inc. (NASDAQ:IPAS) in a research report report published on Thursday. The brokerage currently has a $2.00 price target on the technology company’s stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded iPass from a sell rating to a hold rating in a research note on Friday, September 22nd. Aegis dropped their price target on iPass from $2.75 to $1.40 and set a buy rating on the stock in a research note on Wednesday, September 13th. Finally, ValuEngine downgraded iPass from a hold rating to a sell rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $2.28.
Shares of iPass (IPAS) traded down $0.02 during trading hours on Thursday, reaching $0.55. The company had a trading volume of 623,964 shares, compared to its average volume of 374,407. iPass has a 12 month low of $0.51 and a 12 month high of $1.74.
iPass (NASDAQ:IPAS) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (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 net margin of 30.66% and a negative return on equity of 121.68%. equities analysts predict that iPass will post -0.21 earnings per share for the current fiscal 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 acquired at an average price of $0.56 per share, for a total transaction of $56,000.00. Following the purchase, the chief executive officer now owns 1,022,500 shares in the company, valued at $572,600. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of IPAS. Susquehanna International Group LLP purchased a new stake in shares of iPass in the second quarter worth about $100,000. Northern Trust Corp boosted its stake in shares of iPass by 2.4% in the second quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock worth $173,000 after buying an additional 3,058 shares during the last quarter. Emancipation Management LLC purchased a new stake in shares of iPass in the second quarter worth about $228,000. Sterling Capital Management LLC purchased a new stake in shares of iPass in the second quarter worth about $228,000. Finally, P.A.W. Capital Corp purchased a new stake in shares of iPass in the second quarter worth about $271,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.
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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