iPass Inc. (NASDAQ:IPAS)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a research report issued on Thursday. They presently have a $2.00 target price on the technology company’s stock. Maxim Group’s price objective suggests a potential upside of 238.98% from the stock’s current price.
The analysts wrote, “Mobilise, an IPAS value added reseller to the Mobile Virtual Network Operator (MVNO) market, will deliver unlimited WiFi service to German-based mobilcom-debitel.””
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised iPass from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Aegis raised iPass from a “hold” rating to a “buy” rating and raised their target price for the company from $1.35 to $2.75 in a report on Wednesday, May 24th. Finally, ValuEngine downgraded iPass from a “hold” rating to a “sell” rating in a report on Monday, July 24th. 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 currently has an average rating of “Hold” and an average target price of $2.28.
Shares of iPass (NASDAQ IPAS) traded down 7.81% during trading on Thursday, reaching $0.59. The company’s stock had a trading volume of 689,069 shares. The firm’s 50-day moving average is $0.66 and its 200 day moving average is $1.13. The company’s market cap is $39.34 million. iPass has a 52-week low of $0.51 and a 52-week high of $1.89.
iPass (NASDAQ:IPAS) last issued its earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). The business had revenue of $13.47 million during 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 predict that iPass will post ($0.25) EPS 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 dated Thursday, August 10th. The stock was bought at an average cost 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 of the company’s stock, valued at $572,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC bought a new position in shares of iPass in the 2nd quarter valued at $228,000. Susquehanna International Group LLP bought a new position in shares of iPass in the 2nd quarter valued at $100,000. Northern Trust Corp lifted its stake in shares of iPass by 2.4% in the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after acquiring an additional 3,058 shares during the last quarter. Emancipation Management LLC bought a new position in shares of iPass in the 2nd quarter valued at $228,000. Finally, Royce & Associates LP lifted its stake in shares of iPass by 29.7% in the 2nd quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock valued at $1,096,000 after acquiring an additional 190,000 shares during the last quarter. Institutional investors own 23.36% of the company’s stock.
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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