Fatpipe Inc/UT (NASDAQ:FATN) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Fatpipe Inc/UT (NASDAQ:FATN) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other equities research analysts also recently issued reports on the stock. D. Boral Capital reissued a “buy” rating and set a $8.00 price objective on shares of Fatpipe Inc/UT in a research report on Friday, May 1st. Weiss Ratings raised Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. Finally, 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. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Fatpipe Inc/UT Trading Up 18.8%

Shares of NASDAQ FATN opened at $6.08 on Friday. The firm’s 50 day simple moving average is $5.62. 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 company has a market capitalization of $85.24 million, a price-to-earnings ratio of 15.59 and a beta of 2.77. Fatpipe Inc/UT has a 12-month low of $1.31 and a 12-month high of $10.77.

Fatpipe Inc/UT (NASDAQ:FATN) last announced its earnings results on Thursday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Fatpipe Inc/UT had a net margin of 26.87% and a return on equity of 29.83%. The business had revenue of $5.03 million during the quarter. Sell-side analysts predict that Fatpipe Inc/UT will post 0.41 EPS for the current year.

Institutional Trading of Fatpipe Inc/UT

A hedge fund recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC purchased a new position in Fatpipe Inc/UT (NASDAQ:FATN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned approximately 0.18% of Fatpipe Inc/UT at the end of the most recent quarter.

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.