Renaissance Technologies LLC increased its stake in shares of iPass Inc. (NASDAQ:IPAS) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,153,798 shares of the technology company’s stock after buying an additional 19,806 shares during the period. Renaissance Technologies LLC’s holdings in iPass were worth $3,690,000 at the end of the most recent quarter.
Separately, Royce & Associates LP bought a new position in shares of iPass during the first quarter valued at approximately $749,000. Institutional investors and hedge funds own 24.14% of the company’s stock.
Shares of iPass Inc. (NASDAQ IPAS) traded down 3.442% during trading on Thursday, hitting $0.561. 20,548 shares of the company traded hands. The company has a 50-day moving average of $1.20 and a 200-day moving average of $1.28. The stock’s market capitalization is $36.84 million. iPass Inc. has a 52-week low of $0.56 and a 52-week high of $1.89.
iPass (NASDAQ:IPAS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $13.47 million during the quarter. Equities analysts expect that iPass Inc. will post ($0.11) EPS for the current year.
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Several equities analysts recently commented on the stock. Maxim Group set a $2.00 price objective on shares of iPass and gave the company a “buy” rating in a research report on Thursday, August 3rd. ValuEngine lowered 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 increased their price objective for the company from $1.35 to $2.75 in a research report on Wednesday, May 24th. Finally, Benchmark Co. assumed coverage on shares of iPass in a research report on Tuesday, April 25th. They issued a “buy” rating and a $3.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $2.61.
iPass Company Profile
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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