iPass Inc. (IPAS) Receives Average Recommendation of “Buy” from Analysts

Shares of iPass Inc. (NASDAQ:IPAS) have received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.50.

IPAS has been the subject of a number of research reports. Dawson James initiated coverage on iPass in a report on Tuesday, September 4th. They set a “buy” rating and a $3.00 target price for the company. Maxim Group set a $5.00 target price on iPass and gave the stock a “buy” rating in a report on Wednesday, November 7th. ValuEngine raised iPass from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Aegis reaffirmed a “hold” rating on shares of iPass in a report on Thursday. Finally, Zacks Investment Research raised iPass from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th.

Several institutional investors have recently added to or reduced their stakes in IPAS. Manatuck Hill Partners LLC lifted its holdings in iPass by 133.3% in the second quarter. Manatuck Hill Partners LLC now owns 1,050,000 shares of the technology company’s stock valued at $362,000 after acquiring an additional 600,000 shares during the period. Renaissance Technologies LLC lifted its holdings in iPass by 8.0% in the second quarter. Renaissance Technologies LLC now owns 3,554,108 shares of the technology company’s stock valued at $1,225,000 after acquiring an additional 262,210 shares during the period. Perkins Capital Management Inc. acquired a new position in iPass in the second quarter valued at approximately $566,000. Finally, Pratt Collard Advisory Partners LLC lifted its holdings in iPass by 8.2% in the second quarter. Pratt Collard Advisory Partners LLC now owns 1,790,120 shares of the technology company’s stock valued at $617,000 after acquiring an additional 135,600 shares during the period.

iPass stock opened at $1.97 on Thursday. iPass has a 52 week low of $1.10 and a 52 week high of $6.80. The stock has a market cap of $9.83 million, a P/E ratio of -0.64 and a beta of 0.06.

About iPass

iPass Inc provides mobile connectivity that enables Wi-Fi access on various mobile devices in the United States and internationally. It offers mobile connectivity services that provide cloud-based solution allowing customers and their users access to its Wi-Fi network to stay connected to the people and information.

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