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

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

Analyst Ratings Changes

Several research analysts have recently commented on FATN shares. Weiss Ratings raised shares of Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 8th. Northland Securities assumed 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 on the stock. D. Boral Capital reiterated a “buy” rating and set a $8.00 price objective on shares of Fatpipe Inc/UT in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Fatpipe Inc/UT to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fatpipe Inc/UT currently has an average rating of “Hold” and a consensus target price of $10.00.

Insider Activity

In related news, Director Ragula Bhaskar purchased 20,000 shares of Fatpipe Inc/UT stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average cost of $1.45 per share, with a total value of $29,000.00. Following the purchase, the director owned 2,305,766 shares of the company’s stock, valued at approximately $3,343,360.70. The trade was a 0.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fatpipe Inc/UT stock. Renaissance Technologies LLC purchased a new position in shares of Fatpipe Inc/UT (NASDAQ:FATN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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.

Fatpipe Inc/UT Stock Performance

FATN traded up $0.80 on Monday, reaching $4.90. 423,693 shares of the company’s stock were exchanged, compared to its average volume of 1,533,309. Fatpipe Inc/UT has a twelve month low of $1.31 and a twelve month high of $12.25. The company has a current ratio of 2.74, a quick ratio of 2.69 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $68.28 million and a P/E ratio of 69.71. The company’s 50 day simple moving average is $2.33.

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.