Sify Technologies Limited (NASDAQ:SIFY) Short Interest Update

Sify Technologies Limited (NASDAQ:SIFY) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 384,100 shares, a growth of 325.4% from the August 31st total of 90,300 shares. Based on an average daily trading volume, of 4,660,000 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Sify Technologies in a report on Thursday. They issued a “sell” rating for the company.

Sify Technologies Stock Performance

Shares of SIFY traded down $0.02 during mid-day trading on Friday, hitting $0.37. 402,788 shares of the company’s stock were exchanged, compared to its average volume of 1,789,967. Sify Technologies has a fifty-two week low of $0.30 and a fifty-two week high of $2.05. The stock’s 50-day moving average is $0.40 and its 200-day moving average is $0.79. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84.

Sify Technologies’s stock is set to reverse split on the morning of Friday, October 4th. The 1-6 reverse split was announced on Wednesday, September 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 3rd.

Hedge Funds Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd lifted its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,358 shares of the technology company’s stock after purchasing an additional 38,413 shares during the quarter. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 at the end of the most recent quarter. 0.61% of the stock is owned by institutional investors and hedge funds.

Sify Technologies Company Profile

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.