Sify Technologies (NASDAQ:SIFY) Shares Up 5.5% – Should You Buy?

Sify Technologies Limited (NASDAQ:SIFY)’s share price was up 5.5% on Friday . The stock traded as high as $3.48 and last traded at $3.46. Approximately 12,995 shares changed hands during trading, a decline of 96% from the average daily volume of 294,406 shares. The stock had previously closed at $3.28.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Sify Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, October 20th.

Sify Technologies Price Performance

The stock has a 50-day moving average of $2.66 and a 200 day moving average of $4.03. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Institutional Investors Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd increased its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the second quarter, according to its most recent Form 13F filing with the 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. Hedge funds and other institutional investors own 0.61% of the company’s stock.

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.