Sify Technologies (NASDAQ:SIFY) Stock Price Down 5.9% – What’s Next?

Shares of Sify Technologies Limited (NASDAQ:SIFY) traded down 5.9% during mid-day trading on Monday . The company traded as low as $3.56 and last traded at $3.65. 39,884 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 294,912 shares. The stock had previously closed at $3.88.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Sify Technologies from a “hold” rating to a “sell” rating in a report on Sunday.

Sify Technologies Stock Performance

The business has a 50-day moving average price of $2.58 and a 200 day moving average price of $4.10. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.03.

Hedge Funds Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd increased its stake in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in 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 purchasing an additional 38,413 shares during the quarter. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 at the end of the most recent quarter. 0.61% of the stock is owned by hedge funds and other institutional investors.

About Sify Technologies

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.