Sify Technologies (NASDAQ:SIFY) Shares Down 4.2% – Here’s Why

Shares of Sify Technologies Limited (NASDAQ:SIFY) dropped 4.2% on Friday . The company traded as low as $13.86 and last traded at $13.9550. Approximately 35,780 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 53,659 shares. The stock had previously closed at $14.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Sify Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sify Technologies presently has a consensus rating of “Sell”.

Sify Technologies Stock Performance

The company’s 50-day simple moving average is $11.60 and its two-hundred day simple moving average is $10.17. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.88 and a quick ratio of 0.74.

Hedge Funds Weigh In On Sify Technologies

Several institutional investors have recently bought and sold shares of the stock. Schroder Investment Management Group grew its position in shares of Sify Technologies by 5.6% during the second quarter. Schroder Investment Management Group now owns 42,337 shares of the technology company’s stock valued at $194,000 after purchasing an additional 2,244 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Sify Technologies during the third quarter valued at $137,000. XTX Topco Ltd purchased a new position in shares of Sify Technologies in the 2nd quarter worth $50,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Sify Technologies during the 3rd quarter valued at about $273,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Sify Technologies by 75.4% in the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company’s stock valued at $838,000 after acquiring an additional 84,958 shares during the last quarter. 0.61% of the stock is owned by hedge funds and other institutional investors.

Sify Technologies Company Profile

Sify Technologies Limited is an India?based provider of integrated information and communications technology solutions, catering primarily to enterprise and government clients. The company’s core offerings include network services, data center hosting, cloud computing, managed security, unified communications, and digital transformation solutions. Sify’s end-to-end portfolio is designed to support critical IT infrastructure, enabling clients to scale operations, improve reliability, and accelerate technology adoption.

In the networking domain, Sify operates a nationwide IP?MPLS backbone with extensive fiber infrastructure and a global internet peering footprint.