Maxim Group reaffirmed their buy rating on shares of iPass Inc. (NASDAQ:IPAS) in a research note published on Thursday. They currently have a $2.00 target price on the technology company’s stock.

“Mobilise, an IPAS value added reseller to the Mobile Virtual Network Operator (MVNO) market, will deliver unlimited WiFi service to German-based mobilcom-debitel.”,” Maxim Group’s analyst commented.

IPAS has been the subject of a number of other research reports. ValuEngine downgraded shares of iPass from a hold rating to a sell rating in a research note on Monday, July 24th. Aegis decreased their price target on shares of iPass from $2.75 to $1.40 and set a buy rating for the company in a research note on Wednesday, September 13th. Finally, Zacks Investment Research downgraded shares of iPass from a hold rating to a sell rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $2.28.

iPass (IPAS) opened at 0.59 on Thursday. The company’s 50 day moving average is $0.66 and its 200 day moving average is $1.13. iPass has a 1-year low of $0.51 and a 1-year high of $1.89. The company’s market cap is $39.34 million.

iPass (NASDAQ:IPAS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). iPass had a negative return on equity of 78.31% and a negative net margin of 20.49%. The firm had revenue of $13.47 million during the quarter. Equities research analysts forecast that iPass will post ($0.25) EPS for the current year.

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In related news, CEO Gary A. Griffiths acquired 100,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $0.56 per share, with a total value of $56,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,022,500 shares in the company, valued at $572,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. P.A.W. Capital Corp acquired a new stake in iPass during the second quarter worth approximately $271,000. Renaissance Technologies LLC raised its holdings in iPass by 0.6% during the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock worth $3,690,000 after purchasing an additional 19,806 shares in the last quarter. Abbrea Capital LLC raised its holdings in iPass by 3.5% during the second quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock worth $430,000 after purchasing an additional 11,000 shares in the last quarter. Royce & Associates LP acquired a new stake in iPass during the first quarter worth approximately $749,000. Finally, Emancipation Management LLC acquired a new stake in iPass during the second quarter worth approximately $228,000. 23.36% of the stock is currently owned by institutional investors.

About iPass

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.

Analyst Recommendations for iPass (NASDAQ:IPAS)

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