StockNews.com Initiates Coverage on Sify Technologies (NASDAQ:SIFY)

Investment analysts at StockNews.com began coverage on shares of Sify Technologies (NASDAQ:SIFY) in a report released on Friday. The firm set a “sell” rating on the technology company’s stock.

Sify Technologies Price Performance

Shares of Sify Technologies stock opened at $2.22 on Friday. Sify Technologies has a 52 week low of $1.82 and a 52 week high of $12.30. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average price of $0.43 and a 200 day moving average price of $0.77.

Hedge Funds Weigh In On Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd grew its position in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,358 shares of the technology company’s stock after purchasing an additional 38,413 shares during the period. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.61% of the company’s stock.

About Sify Technologies

Sify Technologies Limited offers ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The company offers internet, internet protocol, multi-protocol label switching, virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, dedicated internet access, and proactive monitoring and management of the network and devices.