iPass Inc. (NASDAQ:IPAS)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.16 and last traded at $1.20, with a volume of 8920 shares. The stock had previously closed at $1.79.
A number of equities analysts have issued reports on IPAS shares. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine upgraded iPass from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Dawson James started coverage on iPass in a report on Tuesday, September 4th. They set a “buy” rating and a $3.00 target price for the company. Finally, Maxim Group set a $10.00 target price on iPass and gave the stock a “buy” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.00.
The firm has a market capitalization of $15.12 million, a PE ratio of -0.38 and a beta of 0.06.
iPass (NASDAQ:IPAS) last released its earnings results on Wednesday, August 8th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.20). The firm had revenue of $10.54 million for the quarter, compared to the consensus estimate of $12.90 million. iPass had a negative return on equity of 130,046.80% and a negative net margin of 40.13%. As a group, analysts anticipate that iPass Inc. will post -1.66 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Manatuck Hill Partners LLC boosted its stake in shares of iPass by 133.3% during the 2nd quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock worth $362,000 after buying an additional 600,000 shares during the last quarter. Perkins Capital Management Inc. acquired a new position in shares of iPass during the 2nd quarter worth about $566,000. Pratt Collard Advisory Partners LLC boosted its stake in shares of iPass by 8.2% during the 2nd quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock worth $617,000 after buying an additional 135,600 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of iPass by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock worth $1,225,000 after buying an additional 262,210 shares during the last quarter.
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iPass Company Profile (NASDAQ:IPAS)
iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.
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