Fatpipe Inc/UT (NASDAQ:FATN) Shares Down 2% – Should You Sell?

Fatpipe Inc/UT (NASDAQ:FATN) shares were down 2% on Monday. The stock traded as low as $5.00 and last traded at $5.00. 23,691 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 34,480 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

FATN has been the subject of several recent research reports. Weiss Ratings upgraded shares of Fatpipe Inc/UT from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen upgraded shares of Fatpipe Inc/UT from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Roth Capital assumed coverage on shares of Fatpipe Inc/UT in a research note on Thursday, September 10th. They set a “buy” rating and a $8.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Fatpipe Inc/UT Price Performance

The business’s 50-day moving average price is $5.44 and its 200 day moving average price is $4.29. The company has a market capitalization of $72.06 million, a P/E ratio of 10.32 and a beta of 2.92. The company has a quick ratio of 3.79, a current ratio of 3.98 and a debt-to-equity ratio of 0.16.

Fatpipe Inc/UT (NASDAQ:FATN) last posted its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter. Fatpipe Inc/UT had a net margin of 26.87% and a return on equity of 28.42%. The business had revenue of $4.83 million for the quarter. Analysts anticipate that Fatpipe Inc/UT will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FATN. Allworth Financial LP bought a new stake in Fatpipe Inc/UT during the second quarter valued at $162,000. Grandeur Peak Global Advisors LLC purchased a new position in Fatpipe Inc/UT during the second quarter worth about $277,000. Finally, BlackRock Inc. purchased a new position in Fatpipe Inc/UT during the second quarter worth about $170,000.

About Fatpipe Inc/UT

FatPipe Inc is a Utah-based networking technology company that develops software-defined wide area networking (SD-WAN) and WAN optimization solutions. Its products are designed to help organizations improve network performance, reliability, security and connectivity across offices, data centers, cloud environments and remote locations.

The company’s offerings use multiple network connections to provide traffic management, failover and load balancing. FatPipe’s portfolio has included SD-WAN, WAN virtualization, VPN, secure connectivity and network optimization solutions intended for enterprises, service providers, government organizations and other institutions.

FatPipe serves customers through business and channel relationships in the United States and international markets.