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

Fatpipe Inc/UT (NASDAQ:FATN) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 88,636 shares, a decrease of 37.2% from the May 14th total of 141,159 shares. Based on an average daily trading volume, of 950,908 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Fatpipe Inc/UT Price Performance

NASDAQ FATN opened at $6.05 on Monday. The firm has a 50-day moving average of $3.89. Fatpipe Inc/UT has a 12 month low of $1.31 and a 12 month high of $10.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.85 and a quick ratio of 3.75. The firm has a market capitalization of $84.85 million, a PE ratio of 17.29 and a beta of 2.40.

Institutional Inflows and Outflows

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 disclosure 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 about 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.