Fatpipe Inc/UT (NASDAQ:FATN) Short Interest Update

Fatpipe Inc/UT (NASDAQ:FATN) was the target of 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. Based on an average daily volume of 4,543,099 shares, the short-interest ratio is currently 0.0 days. Currently, 1.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Fatpipe Inc/UT Stock Up 2.5%

Fatpipe Inc/UT stock opened at $4.10 on Friday. The firm has a 50-day moving average of $2.33. The company has a market cap of $57.07 million and a PE ratio of 58.57. Fatpipe Inc/UT has a twelve month low of $1.31 and a twelve month high of $12.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.69 and a current ratio of 2.74.

Insider Buying and Selling

In other Fatpipe Inc/UT news, Director Ragula Bhaskar purchased 20,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were purchased 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 directly owned 2,305,766 shares in the company, valued at $3,343,360.70. This represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of 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:FATN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned about 0.18% of Fatpipe Inc/UT as of its most recent SEC filing.

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.