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

Research analysts at StockNews.com assumed coverage on shares of Sify Technologies (NASDAQ:SIFY) in a research note issued on Wednesday. The brokerage set a “sell” rating on the technology company’s stock.

Sify Technologies Price Performance

Shares of SIFY opened at $0.36 on Wednesday. The stock has a 50 day moving average of $0.41 and a 200 day moving average of $0.83. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84. Sify Technologies has a 12 month low of $0.30 and a 12 month high of $2.05.

Shares of Sify Technologies are set 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 Trading of Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd lifted its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & 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 quarter. 0.61% of the stock is owned by institutional investors and hedge funds.

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.