Fatpipe Inc/UT (NASDAQ:FATN) Short Interest Down 37.2% in May

Fatpipe Inc/UT (NASDAQ:FATN) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 88,636 shares, a drop of 37.2% from the May 14th total of 141,159 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 950,908 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new stake in shares of Fatpipe Inc/UT (NASDAQ:FATN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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 quarter.

Fatpipe Inc/UT Trading Up 2.0%

Shares of NASDAQ:FATN traded up $0.11 on Wednesday, reaching $5.71. 27,876 shares of the company traded hands, compared to its average volume of 1,365,173. The business has a 50-day simple moving average of $4.03. Fatpipe Inc/UT has a 52 week low of $1.31 and a 52 week high of $10.90. The stock has a market capitalization of $80.11 million, a PE ratio of 16.33 and a beta of 2.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.85 and a quick ratio of 3.75.

About Fatpipe Inc/UT

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.