Sify Technologies (NASDAQ:SIFY) Shares Gap Up – Should You Buy?

Shares of Sify Technologies Limited (NASDAQ:SIFY) gapped up prior to trading on Wednesday . The stock had previously closed at $15.49, but opened at $16.49. Sify Technologies shares last traded at $15.47, with a volume of 25,111 shares trading hands.

Sify Technologies Stock Performance

The company has a fifty day moving average price of $15.60 and a two-hundred day moving average price of $14.38. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.55.

Hedge Funds Weigh In On Sify Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in Sify Technologies by 969.1% in the 1st quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company’s stock valued at $25,000 after buying an additional 1,754 shares in the last quarter. Liontrust Investment Partners LLP raised its holdings in shares of Sify Technologies by 6.2% during the 1st quarter. Liontrust Investment Partners LLP now owns 135,109 shares of the technology company’s stock worth $1,728,000 after acquiring an additional 7,850 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of Sify Technologies during the 4th quarter worth $400,000. Renaissance Technologies LLC boosted its position in shares of Sify Technologies by 22.2% during the 4th quarter. Renaissance Technologies LLC now owns 19,800 shares of the technology company’s stock valued at $241,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Sify Technologies during the 3rd quarter valued at about $273,000. Hedge funds and other institutional investors own 0.61% of the company’s stock.

About Sify Technologies

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.