iPass Inc. (NASDAQ:IPAS) saw unusually-strong trading volume on Friday . Approximately 1,598,400 shares traded hands during trading, an increase of 225% from the previous session’s volume of 492,508 shares.The stock last traded at $0.38 and had previously closed at $0.34.
A number of equities analysts have issued reports on IPAS shares. Maxim Group set a $2.00 price target on shares of iPass and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Roth Capital initiated coverage on shares of iPass in a research report on Wednesday, January 17th. They set a “buy” rating and a $2.00 price target for the company. Finally, Zacks Investment Research raised shares of iPass from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. iPass has an average rating of “Buy” and an average target price of $2.22.
The firm has a market cap of $26.73, a price-to-earnings ratio of -1.23 and a beta of -0.02.
Large investors have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of iPass by 2.4% during the 2nd quarter. Northern Trust Corp now owns 130,999 shares of the technology company’s stock valued at $173,000 after purchasing an additional 3,058 shares in the last quarter. Royce & Associates LP increased 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 valued at $626,000 after purchasing an additional 118,500 shares in the last quarter. Finally, Pratt Collard Advisory Partners LLC purchased a new position in shares of iPass during the 4th quarter valued at approximately $940,000. 17.91% of the stock is owned by hedge funds and other institutional investors.
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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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