Sify Technologies (NASDAQ:SIFY) Share Price Crosses Above 200-Day Moving Average of $1.48

Shares of Sify Technologies Limited (NASDAQ:SIFY) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.48 and traded as high as $1.30. Sify Technologies shares last traded at $1.30, with a volume of 100 shares trading hands.

A number of brokerages have commented on SIFY. Zacks Investment Research cut shares of Sify Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Maxim Group reiterated a “buy” rating and issued a $4.00 price target on shares of Sify Technologies in a research note on Thursday, July 25th.

The stock has a market cap of $51.75 million, a price-to-earnings ratio of 13.00, a PEG ratio of 0.82 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $1.48.



A number of hedge funds have recently made changes to their positions in SIFY. Mercer Global Advisors Inc. ADV acquired a new stake in Sify Technologies in the first quarter valued at $37,000. Pinnacle Associates Ltd. lifted its stake in Sify Technologies by 6.6% in the first quarter. Pinnacle Associates Ltd. now owns 585,332 shares of the technology company’s stock valued at $955,000 after acquiring an additional 36,220 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in Sify Technologies in the first quarter valued at $187,000. Finally, Citadel Advisors LLC lifted its stake in Sify Technologies by 105.7% in the second quarter. Citadel Advisors LLC now owns 25,740 shares of the technology company’s stock valued at $36,000 after acquiring an additional 13,226 shares during the last quarter. Hedge funds and other institutional investors own 4.58% of the company’s stock.

About Sify Technologies (NASDAQ:SIFY)

Sify Technologies Ltd. engages in the provision of integrated Internet, network, and electronic commerce services in India. It operates through the following segments: Telecom-centric Services, and Data Center-centric Information Technology Services. The Telecom-centric Services segment includes domestic data, international data wholesale voice, and network managed services.

Further Reading: Outstanding Shares

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