iPass Inc. (NASDAQ:IPAS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of iPass Inc. (NASDAQ:IPAS) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $2.86.

A number of equities analysts have commented on IPAS shares. Ladenburg Thalmann Financial Services started coverage on iPass in a research note on Monday, April 3rd. They issued a “buy” rating and a $2.70 target price for the company. Benchmark Co. started coverage on iPass in a research note on Tuesday, April 25th. They issued a “buy” rating and a $3.00 target price for the company. Maxim Group set a $3.00 target price on iPass and gave the company a “buy” rating in a research note on Thursday, May 4th. Aegis upgraded iPass from a “hold” rating to a “buy” rating and lifted their target price for the company from $1.35 to $2.75 in a research note on Wednesday, May 24th. Finally, ValuEngine downgraded iPass from a “hold” rating to a “sell” rating in a research note on Monday, July 24th.

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iPass (IPAS) traded up 1.64% during mid-day trading on Monday, reaching $1.24. The company’s stock had a trading volume of 54,601 shares. The firm has a 50-day moving average of $1.33 and a 200-day moving average of $1.33. iPass has a 52 week low of $0.98 and a 52 week high of $1.89. The stock’s market capitalization is $81.57 million.

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased 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 worth $3,690,000 after buying an additional 19,806 shares during the period. Royce & Associates LP acquired a new position in shares of iPass during the first quarter worth about $749,000. Abbrea Capital LLC increased 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 worth $369,000 after buying an additional 100,000 shares during the period. Finally, P.A.W. Capital Corp acquired a new position in shares of iPass during the second quarter worth about $271,000. Institutional investors and hedge funds own 23.91% of the company’s stock.

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.