Ragula Bhaskar Purchases 20,000 Shares of Fatpipe Inc/UT (NASDAQ:FATN) Stock

Fatpipe Inc/UT (NASDAQ:FATN) 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 price of $1.45 per share, with a total value of $29,000.00. Following the completion of the transaction, the director 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 SEC, which is available through this hyperlink.

Fatpipe Inc/UT Trading Up 37.6%

Shares of NASDAQ:FATN opened at $2.38 on Friday. The company has a market capitalization of $33.13 million and a PE ratio of 34.00. The company’s 50-day moving average is $1.82. 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 $23.27.

Fatpipe Inc/UT (NASDAQ:FATN) last released its earnings results on Monday, February 2nd. The company reported $0.02 earnings per share for the quarter. The company had revenue of $4.09 million during the quarter.

Analysts Set New Price Targets

Several analysts have weighed in on the company. D. Boral Capital began coverage on Fatpipe Inc/UT in a research report on Monday. They issued a “buy” rating and a $8.00 price objective for the company. Weiss Ratings assumed coverage on shares of Fatpipe Inc/UT in a report on Tuesday, January 27th. They issued a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Trading of Fatpipe Inc/UT

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC purchased a new stake in shares of Fatpipe Inc/UT (NASDAQ:FATN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned 0.18% of Fatpipe Inc/UT at the end of the most recent reporting period.

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.