Fatpipe Inc/UT (NASDAQ:FATN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Fatpipe Inc/UT (NASDAQ:FATNFree Report) to a hold rating in a research report released on Saturday.

A number of other brokerages also recently commented on FATN. D. Boral Capital reissued a “buy” rating and issued a $8.00 price objective on shares of Fatpipe Inc/UT in a research note on Friday, May 1st. Northland Securities assumed coverage on shares of Fatpipe Inc/UT in a report on Monday, May 11th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, Weiss Ratings raised shares of Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Check Out Our Latest Report on Fatpipe Inc/UT

Fatpipe Inc/UT Stock Up 2.5%

Shares of NASDAQ:FATN opened at $4.10 on Friday. The company has a market capitalization of $57.07 million and a P/E ratio of 58.57. Fatpipe Inc/UT has a 52 week low of $1.31 and a 52 week high of $12.38. The company has a quick ratio of 2.69, a current ratio of 2.74 and a debt-to-equity ratio of 0.20. The business has a 50 day simple moving average of $2.33.

Insider Transactions at Fatpipe Inc/UT

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

Hedge Funds Weigh In On Fatpipe Inc/UT

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new stake in shares of Fatpipe Inc/UT (NASDAQ:FATNFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Fatpipe Inc/UT Company Profile

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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.

Further Reading

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