iPass Inc. (IPAS) Short Interest Update

iPass Inc. (NASDAQ:IPAS) saw a large drop in short interest in January. As of January 12th, there was short interest totalling 383,780 shares, a drop of 53.5% from the December 29th total of 825,607 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 464,149 shares, the short-interest ratio is currently 0.8 days.

A number of research analysts have weighed in on IPAS shares. Maxim Group restated a “buy” rating and issued a $2.00 price objective on shares of iPass in a report on Thursday, November 2nd. Zacks Investment Research upgraded iPass from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Roth Capital started coverage on iPass in a report on Wednesday, January 17th. They issued a “buy” rating and a $2.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.22.

iPass (NASDAQ:IPAS) opened at $0.49 on Monday. The firm has a market capitalization of $32.66, a price-to-earnings ratio of -1.83 and a beta of -0.34. iPass has a fifty-two week low of $0.44 and a fifty-two week high of $1.61.

iPass (NASDAQ:IPAS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). iPass had a negative net margin of 30.66% and a negative return on equity of 149.50%. analysts forecast that iPass will post -0.28 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium TVP Management Co. LLC purchased a new position in shares of iPass during the 3rd quarter worth $3,553,000. Pratt Collard Advisory Partners LLC purchased a new position in shares of iPass during the 4th quarter worth $940,000. P.A.W. Capital Corp raised its holdings 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 acquiring an additional 295,000 shares during the period. Royce & Associates LP raised its holdings in shares of iPass by 14.3% during the 3rd quarter. Royce & Associates LP now owns 948,500 shares of the technology company’s stock worth $626,000 after acquiring an additional 118,500 shares during the period. Finally, Sterling Capital Management LLC purchased a new position in shares of iPass during the 2nd quarter worth $228,000. Institutional investors and hedge funds own 26.58% of the company’s stock.

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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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