E David Panos Purchases 15,000 Shares of iPass Inc. (IPAS) Stock
iPass Inc. (NASDAQ:IPAS) Director E David Panos purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were bought at an average cost of $1.53 per share, with a total value of $22,950.00. Following the purchase, the director now directly owns 70,000 shares of the company’s stock, valued at approximately $107,100. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
iPass Inc. (NASDAQ:IPAS) opened at 1.65 on Monday. The company’s market cap is $109.06 million. iPass Inc. has a 52 week low of $0.81 and a 52 week high of $1.89. The company has a 50-day moving average of $1.66 and a 200-day moving average of $1.43.
iPass (NASDAQ:IPAS) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $15.90 million for the quarter, compared to analyst estimates of $16.03 million. iPass had a negative net margin of 13.91% and a negative return on equity of 43.36%. On average, equities research analysts predict that iPass Inc. will post ($0.12) EPS for the current year.
Several analysts have recently weighed in on the stock. Maxim Group assumed coverage on shares of iPass in a research note on Wednesday, October 19th. They set a “buy” rating and a $3.00 price target for the company. Chardan Capital raised shares of iPass from a “neutral” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Thursday, August 4th.
Several hedge funds have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in iPass by 14.1% in the second quarter. BlackRock Fund Advisors now owns 177,690 shares of the company’s stock worth $220,000 after buying an additional 21,972 shares in the last quarter. Vanguard Group Inc. increased its stake in iPass by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,180,536 shares of the company’s stock worth $2,704,000 after buying an additional 28,600 shares in the last quarter. Finally, Adirondack Research & Management Inc. increased its stake in iPass by 1.5% in the second quarter. Adirondack Research & Management Inc. now owns 3,002,930 shares of the company’s stock worth $3,724,000 after buying an additional 45,476 shares in the last quarter. 29.94% of the stock is currently owned by institutional investors and hedge funds.
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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