Fatpipe Inc/UT (NASDAQ:FATN – Get Free Report) announced its earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, FiscalAI reports. Fatpipe Inc/UT had a return on equity of 28.85% and a net margin of 25.88%.The firm had revenue of $5.03 million during the quarter.
Fatpipe Inc/UT Stock Up 3.3%
NASDAQ:FATN traded up $0.17 on Thursday, reaching $5.29. The stock had a trading volume of 100,449 shares, compared to its average volume of 1,108,199. The stock’s fifty day simple moving average is $5.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.85 and a quick ratio of 3.75. Fatpipe Inc/UT has a 1-year low of $1.31 and a 1-year high of $10.77. The firm has a market cap of $74.18 million, a P/E ratio of 15.12 and a beta of 2.77.
Analysts Set New Price Targets
Several research firms recently issued reports on FATN. Northland Securities began coverage on shares of Fatpipe Inc/UT in a report on Monday, May 11th. They set an “outperform” rating and a $12.00 price objective for the company. D. Boral Capital restated a “buy” rating and set a $8.00 price target on shares of Fatpipe Inc/UT in a report on Friday, May 1st. Wall Street Zen upgraded Fatpipe Inc/UT from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings raised Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 8th. 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 has an average rating of “Hold” and an average target price of $10.00.
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 position in shares of Fatpipe Inc/UT (NASDAQ:FATN – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned approximately 0.18% of Fatpipe Inc/UT at the end of the most recent quarter.
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.
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