iPass Inc. (NASDAQ:IPAS) shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $0.58 and last traded at $0.56. 737,095 shares traded hands during trading, an increase of 214% from the average session volume of 234,908 shares. The stock had previously closed at $0.52.
A number of brokerages have issued reports on IPAS. Zacks Investment Research upgraded shares of iPass from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Maxim Group reiterated a “buy” rating and set a $2.00 price objective on shares of iPass in a research note on Thursday, November 2nd. Finally, Aegis reduced their price objective on shares of iPass from $2.75 to $1.40 and set a “buy” rating on the stock in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. iPass presently has a consensus rating of “Buy” and a consensus target price of $2.28.
Several institutional investors and hedge funds have recently bought and sold shares of IPAS. Millennium TVP Management Co. LLC acquired a new stake in shares of iPass in the 3rd quarter valued at approximately $3,553,000. P.A.W. Capital Corp boosted its stake in shares of iPass by 143.9% in the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock valued at $330,000 after purchasing an additional 295,000 shares in the last quarter. Royce & Associates LP boosted 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 purchasing an additional 190,000 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of iPass in the 2nd quarter valued at approximately $228,000. Finally, Emancipation Management LLC acquired a new stake in shares of iPass in the 2nd quarter valued at approximately $228,000. Institutional investors own 26.58% of the company’s stock.
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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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