Fatpipe Inc/UT (NASDAQ:FATN) Director Ragula Bhaskar Purchases 20,000 Shares of Stock

Fatpipe Inc/UT (NASDAQ:FATN) Director Ragula Bhaskar acquired 20,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $1.45 per share, with a total value of $29,000.00. Following the purchase, the director directly owned 2,305,766 shares in the company, valued at $3,343,360.70. This represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fatpipe Inc/UT Stock Down 8.0%

Shares of NASDAQ FATN opened at $1.73 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.69 and a current ratio of 2.74. The company has a market capitalization of $24.08 million and a price-to-earnings ratio of 24.71. The business’s fifty day moving average is $1.81. Fatpipe Inc/UT has a 12-month low of $1.31 and a 12-month high of $23.27.

Fatpipe Inc/UT (NASDAQ:FATN) last announced its quarterly earnings data on Monday, February 2nd. The company reported $0.02 earnings per share for the quarter. The company had revenue of $4.09 million for the quarter.

Wall Street Analyst Weigh In

FATN has been the topic of a number of research reports. Weiss Ratings began coverage on Fatpipe Inc/UT in a research note on Tuesday, January 27th. They set a “sell (d-)” rating on the stock. D. Boral Capital started coverage on Fatpipe Inc/UT in a research note on Monday. They issued a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Institutional Investors Weigh In On Fatpipe Inc/UT

An institutional investor recently bought a new position in Fatpipe Inc/UT stock. Renaissance Technologies LLC purchased a new stake in shares of Fatpipe Inc/UT (NASDAQ:FATN) in the fourth quarter, according to the company in its most recent filing with the 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 filing with the SEC.

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.