iPass (IPAS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of iPass (NASDAQ:IPAS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “iPass Inc provides software-enabled enterprise connectivity services for mobile workers. iPass’ primary service is designed to enable enterprises to provide their employees with secure access to the enterprise’s internal network through an easy-to-use interface. “

IPAS has been the topic of several other reports. Maxim Group cut shares of iPass from a buy rating to a hold rating in a research report on Wednesday, November 14th. Aegis restated a hold rating on shares of iPass in a research report on Thursday, November 15th. ValuEngine upgraded shares of iPass from a hold rating to a buy rating in a research report on Friday, October 19th. Finally, Dawson James initiated coverage on shares of iPass in a research report on Tuesday, September 4th. They issued a buy rating and a $3.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. iPass currently has a consensus rating of Buy and a consensus price target of $7.56.

Shares of NASDAQ:IPAS opened at $2.00 on Tuesday. The firm has a market cap of $9.83 million, a price-to-earnings ratio of -0.65 and a beta of 0.06. iPass has a 12-month low of $1.10 and a 12-month high of $6.80.

A number of hedge funds and other institutional investors have recently modified their holdings of IPAS. Perkins Capital Management Inc. bought a new position in iPass during the second quarter valued at approximately $566,000. Manatuck Hill Partners LLC grew its position in iPass by 133.3% during 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 last quarter. Renaissance Technologies LLC grew its position in iPass by 8.0% during 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 last quarter. Finally, Pratt Collard Advisory Partners LLC grew its position in iPass by 8.2% during 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 last quarter.

iPass Company Profile

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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