Sify Technologies (NASDAQ:SIFY) Coverage Initiated at StockNews.com

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

Sify Technologies Price Performance

NASDAQ SIFY opened at $0.37 on Thursday. Sify Technologies has a 12 month low of $0.30 and a 12 month high of $2.05. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.03 and a quick ratio of 0.89. The stock’s 50 day moving average is $0.40 and its 200 day moving average is $0.79.

Sify Technologies’s stock is going to reverse split before the market opens on 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.

Institutional Investors Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd lifted its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,358 shares of the technology company’s stock after buying 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 reporting period. 0.61% of the stock is owned by institutional investors.

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.