Fatpipe Inc/UT (NASDAQ:FATN) Coverage Initiated by Analysts at Northland Securities

Investment analysts at Northland Securities assumed coverage on shares of Fatpipe Inc/UT (NASDAQ:FATN) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $12.00 price target on the stock. Northland Securities’ price objective suggests a potential upside of 247.83% from the stock’s previous close.

FATN has been the subject of several other reports. D. Boral Capital reiterated a “buy” rating and issued a $8.00 target price on shares of Fatpipe Inc/UT in a research report on Friday, May 1st. Weiss Ratings upgraded Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.00.

Fatpipe Inc/UT Price Performance

Shares of FATN stock traded up $0.30 on Monday, hitting $3.45. 205,467 shares of the company’s stock were exchanged, compared to its average volume of 1,600,189. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.69 and a current ratio of 2.74. Fatpipe Inc/UT has a 12 month low of $1.31 and a 12 month high of $12.38. The company has a market capitalization of $48.02 million and a PE ratio of 49.71. The stock’s 50 day moving average is $2.07.

Insider Buying and Selling

In other news, Director Ragula Bhaskar bought 20,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $1.45 per share, for a total transaction of $29,000.00. Following the completion of the transaction, the director owned 2,305,766 shares of the company’s stock, valued at $3,343,360.70. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On Fatpipe Inc/UT

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new position in shares of Fatpipe Inc/UT (NASDAQ:FATN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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.