iPass Inc. (NASDAQ:IPAS) CEO Gary A. Griffiths bought 100,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $0.56 per share, with a total value of $56,000.00. Following the transaction, the chief executive officer now owns 1,022,500 shares in the company, valued at $572,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
iPass Inc. (IPAS) traded up 5.0482% during midday trading on Friday, reaching $0.5993. 322,497 shares of the company’s stock were exchanged. The stock’s market cap is $39.35 million. The firm’s 50-day moving average is $1.16 and its 200 day moving average is $1.27. iPass Inc. has a 1-year low of $0.53 and a 1-year high of $1.89.
iPass (NASDAQ:IPAS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. The company had revenue of $13.47 million during the quarter. iPass had a negative net margin of 20.49% and a negative return on equity of 78.31%. Equities analysts anticipate that iPass Inc. will post ($0.25) earnings per share for the current fiscal year.
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A number of research firms have issued reports on IPAS. Maxim Group set a $3.00 target price on shares of iPass and gave the stock a “buy” rating in a research report on Thursday, May 4th. Aegis upgraded shares of iPass from a “hold” rating to a “buy” rating and increased their target price for the stock from $1.35 to $2.75 in a research report on Wednesday, May 24th. Benchmark Co. began coverage on shares of iPass in a research report on Tuesday, April 25th. They issued a “buy” rating and a $3.00 target price for the company. Finally, ValuEngine downgraded shares of iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. iPass has an average rating of “Buy” and a consensus target price of $2.61.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position 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 buying an additional 3,058 shares during the period. Abbrea Capital LLC boosted its position in iPass by 3.5% in the second quarter. Abbrea Capital LLC now owns 326,000 shares of the technology company’s stock valued at $430,000 after buying an additional 11,000 shares during the period. Renaissance Technologies LLC boosted its position in iPass by 0.6% in the first quarter. Renaissance Technologies LLC now owns 3,153,798 shares of the technology company’s stock valued at $3,690,000 after buying an additional 19,806 shares during the period. Emancipation Management LLC bought a new position in iPass during the second quarter valued at $228,000. Finally, Royce & Associates LP boosted its position in iPass by 29.7% in the second quarter. Royce & Associates LP now owns 830,000 shares of the technology company’s stock valued at $1,096,000 after buying an additional 190,000 shares during the period. Institutional investors own 24.14% of the company’s stock.
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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