iPass Inc. (NASDAQ:IPAS) was the recipient of a significant decline in short interest during the month of January. As of January 12th, there was short interest totalling 383,780 shares, a decline of 53.5% from the December 29th total of 825,607 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 464,149 shares, the days-to-cover ratio is currently 0.8 days.
iPass (IPAS) opened at $0.47 on Friday. iPass has a 52 week low of $0.39 and a 52 week high of $1.51. The company has a market capitalization of $29.53, a P/E ratio of -1.74 and a beta of -0.34.
IPAS has been the subject of several research analyst reports. Zacks Investment Research lowered iPass from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Maxim Group reissued a “buy” rating and issued a $2.00 price objective on shares of iPass in a report on Thursday, November 2nd. Finally, Roth Capital initiated coverage on iPass in a report on Wednesday, January 17th. They issued a “buy” rating and a $2.00 price objective for the company. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $2.22.
Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new position in iPass in the second quarter valued at approximately $100,000. Northern Trust Corp boosted its stake in iPass by 2.4% in the second quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after acquiring an additional 3,058 shares during the period. Sterling Capital Management LLC acquired a new position in iPass in the second quarter valued at approximately $228,000. P.A.W. Capital Corp boosted its stake in iPass by 143.9% in the third quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock valued at $330,000 after acquiring an additional 295,000 shares during the period. Finally, Royce & Associates LP boosted its stake in iPass by 14.3% in the third quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock valued at $626,000 after acquiring an additional 118,500 shares during the period. Institutional investors own 28.10% 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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