Fatpipe Inc/UT (NASDAQ:FATN) Short Interest Update

Fatpipe Inc/UT (NASDAQ:FATN) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 161,265 shares, a growth of 112.5% from the April 15th total of 75,882 shares. Based on an average daily volume of 4,543,099 shares, the short-interest ratio is presently 0.0 days. Currently, 1.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

FATN has been the topic of several research reports. Northland Securities initiated coverage on Fatpipe Inc/UT in a research note on Monday, May 11th. They set an “outperform” rating and a $12.00 price objective on the stock. Wall Street Zen upgraded Fatpipe Inc/UT to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. Finally, D. Boral Capital restated a “buy” rating and set a $8.00 price objective on shares of Fatpipe Inc/UT in a research note on Friday, May 1st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fatpipe Inc/UT currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Insider Buying and Selling

In other news, Director Ragula Bhaskar purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $1.45 per share, for a total transaction of $29,000.00. Following the completion of the purchase, the director owned 2,305,766 shares of the company’s stock, valued at approximately $3,343,360.70. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Fatpipe Inc/UT

A hedge fund recently bought a new stake in Fatpipe Inc/UT stock. Renaissance Technologies LLC purchased a new stake in Fatpipe Inc/UT (NASDAQ:FATN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned about 0.18% of Fatpipe Inc/UT at the end of the most recent reporting period.

Fatpipe Inc/UT Stock Up 2.5%

FATN opened at $4.10 on Friday. The stock’s 50-day simple moving average is $2.33. Fatpipe Inc/UT has a fifty-two week low of $1.31 and a fifty-two week high of $12.38. The company has a current ratio of 2.74, a quick ratio of 2.69 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $57.07 million and a price-to-earnings ratio of 58.57.

Fatpipe Inc/UT Company Profile

FatPipe is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (“SD-WAN”) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Organizations, large and small, have become increasingly dependent on their information technology (“IT”) network infrastructure for data access and communications, and the critical importance of network reliability, extensibility, and durability has continued to grow as the volume of traffic across those networks expands.