iPass’ (IPAS) Buy Rating Reaffirmed at Aegis
A number of other research analysts also recently issued reports on IPAS. Chardan Capital upgraded shares of iPass from a neutral rating to a buy rating and set a $2.00 price target on the stock in a research report on Thursday, August 4th. Maxim Group assumed coverage on shares of iPass in a research report on Wednesday, October 19th. They issued a buy rating and a $3.00 price target on the stock.
iPass (NASDAQ:IPAS) traded down 0.7654% on Thursday, reaching $1.6076. 14,410 shares of the company were exchanged. The stock’s market capitalization is $106.52 million. The company’s 50-day moving average price is $1.65 and its 200-day moving average price is $1.47. iPass has a 12-month low of $0.81 and a 12-month high of $1.89.
iPass (NASDAQ:IPAS) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.02). The firm had revenue of $15.90 million for the quarter, compared to the consensus estimate of $16.03 million. iPass had a negative net margin of 13.91% and a negative return on equity of 43.80%. Equities research analysts anticipate that iPass will post ($0.12) earnings per share for the current fiscal year.
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In related news, CEO Gary A. Griffiths bought 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were bought at an average price of $1.53 per share, for a total transaction of $61,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adirondack Research & Management Inc. increased its position in iPass by 0.6% in the third quarter. Adirondack Research & Management Inc. now owns 3,019,460 shares of the company’s stock worth $4,922,000 after buying an additional 16,530 shares during the last quarter. Vanguard Group Inc. increased its position 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 during the last quarter. Finally, BlackRock Fund Advisors increased its position 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 during the last quarter. Institutional investors own 30.07% 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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