Dawson James Begins Coverage on iPass (IPAS)

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Dawson James began coverage on shares of iPass (NASDAQ:IPAS) in a research note released on Tuesday morning, The Fly reports. The firm issued a buy rating and a $3.00 price target on the technology company’s stock.

IPAS has been the topic of several other research reports. ValuEngine raised iPass from a hold rating to a buy rating in a report on Friday, July 6th. Maxim Group set a $10.00 price objective on iPass and gave the company a buy rating in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded iPass from a hold rating to a sell rating in a report on Tuesday, August 14th. One 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 stock presently has a consensus rating of Buy and a consensus price target of $11.75.

NASDAQ IPAS opened at $2.13 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of -3.08. iPass has a twelve month low of $1.76 and a twelve month high of $8.90.

iPass (NASDAQ:IPAS) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.20). iPass had a negative net margin of 40.13% and a negative return on equity of 130,046.80%. The firm had revenue of $10.54 million for the quarter, compared to analyst estimates of $12.90 million. equities analysts expect that iPass will post -1.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. acquired a new stake in shares of iPass during the 2nd quarter valued at $566,000. Pratt Collard Advisory Partners LLC boosted its holdings in shares of iPass by 8.2% during the 2nd 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of iPass by 8.0% during the 2nd 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 in the last quarter. Finally, Manatuck Hill Partners LLC boosted its holdings in shares of iPass by 133.3% during the 2nd 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 in the last quarter. 15.45% of the stock is currently owned by institutional investors.

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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