Wall Street Zen Downgrades Fatpipe Inc/UT (NASDAQ:FATN) to Hold

Fatpipe Inc/UT (NASDAQ:FATN) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

FATN has been the topic of several other reports. Northland Securities assumed coverage on shares of Fatpipe Inc/UT in a research note on Monday, May 11th. They set an “outperform” rating and a $12.00 target price on the stock. Weiss Ratings upgraded shares of Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. Finally, D. Boral Capital restated a “buy” rating and issued a $8.00 price objective on shares of Fatpipe Inc/UT in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Fatpipe Inc/UT Price Performance

Shares of FATN opened at $7.96 on Monday. Fatpipe Inc/UT has a fifty-two week low of $1.31 and a fifty-two week high of $11.08. The business’s 50 day simple moving average is $2.98. The stock has a market cap of $111.60 million, a P/E ratio of 22.74 and a beta of 2.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.75 and a current ratio of 3.85.

Insider Activity at Fatpipe Inc/UT

In related news, Director Ragula Bhaskar bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average cost of $1.45 per share, with a total value of $29,000.00. Following the transaction, the director directly owned 2,305,766 shares of the company’s stock, valued at approximately $3,343,360.70. This represents a 0.87% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC bought a new stake in Fatpipe Inc/UT (NASDAQ:FATN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent reporting period.

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.