Sify Technologies (NASDAQ:SIFY) Sees Large Volume Increase – Here’s Why

Shares of Sify Technologies Limited (NASDAQ:SIFY) saw unusually-high trading volume on Wednesday . Approximately 38,548 shares were traded during trading, an increase of 103% from the previous session’s volume of 19,008 shares.The stock last traded at $13.1480 and had previously closed at $12.55.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sify Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Sify Technologies Trading Up 6.2%

The company has a debt-to-equity ratio of 1.55, a current ratio of 0.88 and a quick ratio of 0.74. The company has a 50-day moving average price of $11.53 and a 200 day moving average price of $10.12.

Institutional Investors Weigh In On Sify Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Theleme Partners LLP purchased a new position in Sify Technologies during the third quarter valued at $13,627,000. Acadian Asset Management LLC increased its stake in Sify Technologies by 75.4% in the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company’s stock worth $838,000 after acquiring an additional 84,958 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Sify Technologies by 5.6% during the 2nd quarter. Schroder Investment Management Group now owns 42,337 shares of the technology company’s stock worth $194,000 after acquiring an additional 2,244 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Sify Technologies during the 3rd quarter valued at approximately $273,000. Finally, XTX Topco Ltd purchased a new position in shares of Sify Technologies in the second quarter valued at $50,000. 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.