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

StockNews.com initiated coverage on shares of Sify Technologies (NASDAQ:SIFY) in a report issued on Wednesday. The brokerage issued a sell rating on the technology company’s stock.

Sify Technologies Stock Performance

NASDAQ:SIFY opened at $0.36 on Wednesday. Sify Technologies has a 52-week low of $0.30 and a 52-week high of $2.05. The stock’s 50 day moving average price is $0.40 and its 200 day moving average price is $0.82. 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’s stock is scheduled to reverse split 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.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd boosted its position in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,358 shares of the technology company’s stock after buying an additional 38,413 shares during the period. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 as of its most recent SEC filing. 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.