Fatpipe Inc/UT (NASDAQ:FATN) Shares Down 2% - Time to Sell?

Key Points

• Fatpipe shares fell 2% to $5.00 in mid-day trading, with volume below the stock’s average. The company has a market capitalization of approximately $70.65 million and a P/E ratio of 12.82.
• Analyst sentiment is mixed but leans positive: three analysts rate FATN a Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $9.33.
• Institutional interest increased during the second quarter, with BlackRock, Allworth Financial and Grandeur Peak Global Advisors establishing new positions. FatPipe develops SD-WAN and WAN optimization software for enterprise and other organizations.

Shares of Fatpipe Inc/UT (NASDAQ:FATN - Get Free Report) were down 2% during mid-day trading on Monday. The company traded as low as $5.00 and last traded at $5.00. Approximately 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.

Analyst Ratings Changes

Several brokerages have commented on FATN. Wall Street Zen upgraded shares of Fatpipe Inc/UT from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Fatpipe Inc/UT in a report on Wednesday, August 5th. Finally, Roth Capital began coverage on Fatpipe Inc/UT in a report on Thursday, September 10th. They set a "buy" rating and a $8.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.33.

Fatpipe Inc/UT Trading Down 2.0%

The stock's fifty day moving average price is $5.47 and its 200 day moving average price is $4.28. The stock has a market cap of $70.65 million, a P/E ratio of 12.82 and a beta of 2.88. The company has a current ratio of 3.98, a quick ratio of 3.79 and a debt-to-equity ratio of 0.16.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Fatpipe Inc/UT during the second quarter valued at approximately $170,000. Allworth Financial LP purchased a new position in shares of Fatpipe Inc/UT during the second quarter valued at approximately $162,000. Finally, Grandeur Peak Global Advisors LLC purchased a new position in shares of Fatpipe Inc/UT during the second quarter valued at approximately $277,000.

Fatpipe Inc/UT Company Profile

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.

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