Fatpipe Inc/UT (NASDAQ:FATN) Cut to Hold at 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 report report published on Saturday.

A number of other equities research analysts also recently commented on the company. Weiss Ratings raised Fatpipe Inc/UT from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. Northland Securities assumed coverage on shares of Fatpipe Inc/UT in a report on Monday, May 11th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, D. Boral Capital reissued a “buy” rating and set a $8.00 price target on shares of Fatpipe Inc/UT in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.00.

Fatpipe Inc/UT Stock Performance

Shares of FATN opened at $6.89 on Friday. The stock’s 50-day moving average price is $5.68. Fatpipe Inc/UT has a one year low of $1.31 and a one year high of $10.77. The company has a current ratio of 3.85, a quick ratio of 3.75 and a debt-to-equity ratio of 0.17. The firm has a market cap of $96.60 million, a PE ratio of 17.67 and a beta of 2.80.

Fatpipe Inc/UT (NASDAQ:FATN) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Fatpipe Inc/UT had a return on equity of 29.83% and a net margin of 26.87%.The business had revenue of $5.03 million for the quarter. Analysts predict that Fatpipe Inc/UT will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC acquired a new position in Fatpipe Inc/UT (NASDAQ:FATN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,300 shares of the company’s stock, valued at approximately $51,000. Renaissance Technologies LLC owned 0.18% of Fatpipe Inc/UT as of its most recent filing with the Securities & Exchange Commission.

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.