iPass Inc. (NASDAQ:IPAS) shares traded down 6.1% on Thursday . The stock traded as low as $0.45 and last traded at $0.46. 920,912 shares traded hands during mid-day trading, an increase of 76% from the average session volume of 523,967 shares. The stock had previously closed at $0.49.

Several research analysts have weighed in on the company. Roth Capital assumed coverage on iPass in a report on Wednesday, January 17th. They issued a “buy” rating and a $2.00 price target for the company. Zacks Investment Research raised shares of iPass from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Maxim Group reissued a “buy” rating and set a $2.00 price objective on shares of iPass in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $2.22.

The firm has a market cap of $30.69, a P/E ratio of -1.58 and a beta of -0.34.

Several hedge funds and other institutional investors have recently made changes to their positions in IPAS. Millennium TVP Management Co. LLC purchased a new stake in shares of iPass during the 3rd quarter valued at $3,553,000. Pratt Collard Advisory Partners LLC purchased a new stake in shares of iPass during the 4th quarter valued at $940,000. P.A.W. Capital Corp grew its stake in shares of iPass by 143.9% during the 3rd quarter. P.A.W. Capital Corp now owns 500,000 shares of the technology company’s stock valued at $330,000 after buying an additional 295,000 shares during the period. Sterling Capital Management LLC purchased a new stake in shares of iPass during the 2nd quarter valued at $228,000. Finally, Royce & Associates LP grew its stake 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 buying an additional 118,500 shares during the period. 29.33% of the stock is owned by institutional investors.

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iPass Company Profile

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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