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

Equities research analysts at StockNews.com started coverage on shares of Sify Technologies (NASDAQ:SIFY) in a report released on Thursday. The firm set a “sell” rating on the technology company’s stock.

Sify Technologies Price Performance

SIFY stock opened at $0.38 on Thursday. The company’s 50-day simple moving average is $0.40 and its 200-day simple moving average is $0.80. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.03 and a quick ratio of 0.89. Sify Technologies has a 52-week low of $0.30 and a 52-week high of $2.05.

Sify Technologies’s stock is going to reverse split on the morning of 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 raised its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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.