iPass (IPAS) Rating Lowered to Sell at Zacks Investment Research

iPass (NASDAQ:IPAS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “iPass Inc provides software-enabled enterprise connectivity services for mobile workers. iPass’ primary service is designed to enable enterprises to provide their employees with secure access to the enterprise’s internal network through an easy-to-use interface. “

A number of other research analysts also recently issued reports on IPAS. Maxim Group reissued a “buy” rating and issued a $2.00 price target on shares of iPass in a report on Thursday, November 2nd. Roth Capital initiated coverage on iPass in a report on Wednesday. They issued a “buy” rating and a $2.00 price target for the company. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.22.

iPass (IPAS) traded up $0.03 during trading on Friday, hitting $0.50. The company had a trading volume of 1,170,384 shares, compared to its average volume of 553,850. iPass has a 12-month low of $0.44 and a 12-month high of $1.63. The firm has a market capitalization of $33.37, a P/E ratio of -1.85 and a beta of -0.34.

iPass (NASDAQ:IPAS) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.05). iPass had a negative net margin of 30.66% and a negative return on equity of 149.50%. equities analysts expect that iPass will post -0.3 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in IPAS. Northern Trust Corp lifted its holdings 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. Susquehanna International Group LLP acquired a new position in iPass in the second quarter valued at approximately $100,000. Sterling Capital Management LLC acquired a new position in shares of iPass during the 2nd quarter worth approximately $228,000. P.A.W. Capital Corp raised its stake in shares of iPass by 143.9% during the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock worth $330,000 after buying an additional 295,000 shares during the period. Finally, Millennium TVP Management Co. LLC acquired a new position in shares of iPass during the 3rd quarter worth approximately $3,553,000. 26.58% of the stock is owned by institutional investors.

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About iPass

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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