Fatpipe Inc/UT (NASDAQ:FATN) Research Coverage Started at Roth Capital

Roth Capital assumed coverage on shares of Fatpipe Inc/UT (NASDAQ:FATN) in a research report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $8.00 price target on the stock.

FATN has been the subject of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Fatpipe Inc/UT in a report on Wednesday, August 5th. Wall Street Zen upgraded Fatpipe Inc/UT from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fatpipe Inc/UT currently has an average rating of “Moderate Buy” and an average target price of $9.33.

Fatpipe Inc/UT Price Performance

Shares of FATN stock opened at $5.61 on Thursday. Fatpipe Inc/UT has a twelve month low of $1.31 and a twelve month high of $10.77. The company has a current ratio of 3.98, a quick ratio of 3.79 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $5.72 and a two-hundred day simple moving average of $4.32. The stock has a market capitalization of $79.27 million, a price-to-earnings ratio of 14.38 and a beta of 2.78.

Fatpipe Inc/UT (NASDAQ:FATN) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Fatpipe Inc/UT had a return on equity of 28.42% and a net margin of 26.87%.The firm had revenue of $5.03 million for the quarter. On average, analysts predict that Fatpipe Inc/UT will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Fatpipe Inc/UT

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Fatpipe Inc/UT during the second quarter worth $170,000. Allworth Financial LP purchased a new position in Fatpipe Inc/UT during the 2nd quarter worth $162,000. Renaissance Technologies LLC acquired a new position in Fatpipe Inc/UT during the 4th quarter valued at about $51,000. Finally, Grandeur Peak Global Advisors LLC acquired a new position in Fatpipe Inc/UT during the 2nd quarter valued at about $277,000.

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.