Michael Tedesco Purchases 25,000 Shares of iPass Inc. (IPAS) Stock
iPass Inc. (NASDAQ:IPAS) Director Michael Tedesco acquired 25,000 shares of iPass stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $0.59 per share, with a total value of $14,750.00. Following the completion of the acquisition, the director now owns 165,000 shares of the company’s stock, valued at approximately $97,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
iPass Inc. (NASDAQ:IPAS) traded up 5.45% during trading on Tuesday, reaching $0.58. The company’s stock had a trading volume of 65,586 shares. The firm has a 50-day moving average price of $1.03 and a 200-day moving average price of $1.23. iPass Inc. has a 52 week low of $0.53 and a 52 week high of $1.89. The firm’s market capitalization is $38.67 million.
iPass (NASDAQ:IPAS) last posted its quarterly earnings data 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 firm had revenue of $13.47 million for the quarter. iPass had a negative return on equity of 78.31% and a negative net margin of 20.49%. On average, equities analysts anticipate that iPass Inc. will post ($0.25) EPS for the current fiscal year.
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IPAS has been the subject of several research reports. Benchmark Co. initiated coverage on iPass in a report on Tuesday, April 25th. They set a “buy” rating and a $3.00 price objective for the company. Maxim Group set a $3.00 price target on iPass and gave the stock a “buy” rating in a research report on Thursday, May 4th. Aegis raised iPass from a “hold” rating to a “buy” rating and raised their price target for the stock from $1.35 to $2.75 in a research report on Wednesday, May 24th. ValuEngine downgraded iPass from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded iPass from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $2.61.
Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake 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 last quarter. Royce & Associates LP raised its stake 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 last quarter. Abbrea Capital LLC raised its stake 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 last quarter. P.A.W. Capital Corp purchased a new stake in iPass during the second quarter valued at $271,000. Finally, Sterling Capital Management LLC purchased a new stake in iPass during the second quarter valued at $228,000. 24.12% 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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