Fatpipe Inc/UT (NASDAQ:FATN) Sees Large Increase in Short Interest

Fatpipe Inc/UT (NASDAQ:FATNGet Free Report) saw a significant growth in short interest in 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. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 4,543,099 shares, the short-interest ratio is presently 0.0 days.

Insider Activity

In related news, Director Ragula Bhaskar bought 20,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average cost of $1.45 per share, with a total value of $29,000.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Fatpipe Inc/UT

A hedge fund recently bought a new stake in Fatpipe Inc/UT stock. Renaissance Technologies LLC bought a new stake in Fatpipe Inc/UT (NASDAQ:FATNFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned 0.18% of Fatpipe Inc/UT as of its most recent filing with the Securities and Exchange Commission.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on Fatpipe Inc/UT

Fatpipe Inc/UT Stock Up 2.5%

FATN traded up $0.10 during trading on Friday, hitting $4.10. The company’s stock had a trading volume of 203,732 shares, compared to its average volume of 2,866,402. The company’s 50 day moving average price is $2.33. The company has a quick ratio of 2.69, a current ratio of 2.74 and a debt-to-equity ratio of 0.20. Fatpipe Inc/UT has a 12 month low of $1.31 and a 12 month high of $12.38. The company has a market capitalization of $57.07 million and a PE ratio of 58.57.

About Fatpipe Inc/UT

(Get Free Report)

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.

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