Perkins Capital Management Inc. lessened its holdings in shares of iPass Inc. (NASDAQ:IPAS) by 90.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,735 shares of the technology company’s stock after selling 1,489,736 shares during the quarter. Perkins Capital Management Inc. owned about 1.82% of iPass worth $312,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Manatuck Hill Partners LLC raised its stake in 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 purchasing an additional 600,000 shares during the period. Pratt Collard Advisory Partners LLC raised its stake in 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 purchasing an additional 135,600 shares during the period. Finally, Renaissance Technologies LLC raised its stake in 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 purchasing an additional 262,210 shares during the period.
NASDAQ:IPAS opened at $1.40 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of -3.08. iPass Inc. has a 1 year low of $1.36 and a 1 year high of $7.39.
iPass (NASDAQ:IPAS) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.20). iPass had a negative return on equity of 130,046.80% and a negative net margin of 40.13%. The firm had revenue of $10.54 million during the quarter, compared to the consensus estimate of $12.90 million. Equities analysts predict that iPass Inc. will post -1.66 earnings per share for the current fiscal year.
Several analysts recently issued reports on IPAS shares. Maxim Group reissued a “buy” rating and set a $10.00 target price on shares of iPass in a research note on Thursday, August 9th. Zacks Investment Research downgraded iPass from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Dawson James began coverage on iPass in a research note on Tuesday, September 4th. They issued a “buy” rating and a $3.00 price objective on the stock. Finally, ValuEngine downgraded iPass from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $11.00.
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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