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

StockNews.com began coverage on shares of Sify Technologies (NASDAQ:SIFY) in a research report sent to investors on Sunday. The brokerage issued a hold rating on the technology company’s stock.

Separately, TheStreet lowered shares of Sify Technologies from a c- rating to a d+ rating in a research note on Friday, February 2nd.

Sify Technologies Price Performance

SIFY stock traded down $0.02 during mid-day trading on Friday, reaching $1.19. The company had a trading volume of 80,494 shares, compared to its average volume of 77,128. The firm has a fifty day simple moving average of $1.28 and a 200 day simple moving average of $1.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.10 and a quick ratio of 0.99. Sify Technologies has a fifty-two week low of $1.07 and a fifty-two week high of $3.37.

Institutional Investors Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. Acadian Asset Management LLC raised its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 100.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,303 shares of the technology company’s stock after buying an additional 255,050 shares during the period. Acadian Asset Management LLC owned about 0.28% of Sify Technologies worth $928,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.61% of the company’s stock.

About Sify Technologies

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