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

Investment analysts at StockNews.com started coverage on shares of Sify Technologies (NASDAQ:SIFY) in a note issued to investors on Monday. The firm set a “hold” rating on the technology company’s stock.

Sify Technologies Price Performance

NASDAQ SIFY opened at $0.66 on Monday. The company has a 50 day simple moving average of $0.40 and a 200-day simple moving average of $0.89. Sify Technologies has a 52-week low of $0.30 and a 52-week high of $2.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.03 and a quick ratio of 0.89.

Hedge Funds Weigh In On Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd boosted its position in shares of Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,358 shares of the technology company’s stock after purchasing an additional 38,413 shares during the period. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.