iPass Inc. (NASDAQ:IPAS) CEO Buys $56,000.00 in Stock
iPass Inc. (NASDAQ:IPAS) CEO Gary A. Griffiths bought 100,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 1,022,500 shares of the company’s stock, valued at approximately $572,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
iPass Inc. (IPAS) traded down 1.8072% on Thursday, hitting $0.5705. 328,113 shares of the stock were exchanged. The company’s 50 day moving average price is $1.18 and its 200-day moving average price is $1.28. iPass Inc. has a one year low of $0.53 and a one year high of $1.89. The company’s market cap is $37.46 million.
iPass (NASDAQ:IPAS) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.05. iPass had a negative net margin of 20.49% and a negative return on equity of 69.91%. The company had revenue of $13.47 million for the quarter. Equities research analysts predict that iPass Inc. will post ($0.11) EPS for the current fiscal year.
IPAS has been the topic of a number of recent research reports. Maxim Group reaffirmed a “buy” rating and set a $3.00 price target on shares of iPass in a research report on Tuesday, May 23rd. ValuEngine cut shares of iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Aegis raised shares of iPass from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.35 to $2.75 in a research report on Wednesday, May 24th. Finally, Benchmark Co. initiated coverage on shares of iPass in a research report on Tuesday, April 25th. They set a “buy” rating and a $3.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. iPass presently has a consensus rating of “Buy” and an average target price of $2.61.
Large investors have recently bought and sold shares of the stock. Abbrea Capital LLC boosted its position in shares of iPass by 46.5% in the first quarter. Abbrea Capital LLC now owns 315,000 shares of the technology company’s stock valued at $369,000 after buying an additional 100,000 shares during the period. P.A.W. Capital Corp purchased a new position in shares of iPass during the second quarter valued at approximately $271,000. Royce & Associates LP purchased a new position in shares of iPass during the first quarter valued at approximately $749,000. Renaissance Technologies LLC boosted its position in shares of 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. Finally, Emancipation Management LLC purchased a new position in shares of iPass during the second quarter valued at approximately $228,000. 24.14% of the stock is owned by institutional investors.
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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