iPass Inc. (NASDAQ:IPAS) rose 10.3% during mid-day trading on Thursday . The company traded as high as $0.61 and last traded at $0.52. Approximately 212,015 shares were traded during trading, a decline of 60% from the average daily volume of 530,258 shares. The stock had previously closed at $0.58.
IPAS has been the subject of a number of recent research reports. Maxim Group restated a “buy” rating and set a $2.00 price target on shares of iPass in a research note on Thursday, November 2nd. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Roth Capital assumed coverage on iPass in a research note on Wednesday, January 17th. They set a “buy” rating and a $2.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. iPass currently has a consensus rating of “Hold” and a consensus price target of $2.22.
The firm has a market capitalization of $35.37, a P/E ratio of -1.89 and a beta of -0.34.
Hedge funds have recently bought and sold shares of the business. Millennium TVP Management Co. LLC bought a new position in iPass in the 3rd quarter worth approximately $3,553,000. Pratt Collard Advisory Partners LLC bought a new position in iPass in the 4th quarter worth approximately $940,000. P.A.W. Capital Corp boosted its stake in iPass by 143.9% in the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock worth $330,000 after purchasing an additional 295,000 shares during the period. Royce & Associates LP raised its holdings in shares of iPass by 14.3% during the 3rd quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock worth $626,000 after acquiring an additional 118,500 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new stake in shares of iPass during the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 29.39% of the company’s stock.
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iPass Company Profile
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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