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

StockNews.com began coverage on shares of Sify Technologies (NASDAQ:SIFY) in a research report released on Thursday morning. The firm issued a sell rating on the technology company’s stock.

Sify Technologies Trading Down 4.1 %

NASDAQ:SIFY opened at $0.37 on Thursday. The stock’s 50 day moving average price is $0.40 and its 200 day moving average price is $0.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.03. Sify Technologies has a 52-week low of $0.30 and a 52-week high of $2.05.

Sify Technologies shares are 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 market closes on Thursday, October 3rd.

Hedge Funds Weigh In On Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd increased its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,358 shares of the technology company’s stock after acquiring an additional 38,413 shares during the quarter. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 as of its most recent filing with the SEC. 0.61% of the stock is currently owned by institutional investors and hedge funds.

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.