Sify Technologies (NASDAQ:SIFY) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Sify Technologies Limited (NASDAQ:SIFY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.81 and traded as high as $2.97. Sify Technologies shares last traded at $2.95, with a volume of 41,944 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sify Technologies from a “sell” rating to a “hold” rating in a research note on Monday, October 28th.

Sify Technologies Trading Up 2.1 %

The stock has a market capitalization of $90.16 million, a P/E ratio of 73.75, a P/E/G ratio of 16.10 and a beta of 1.48. The stock’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.81. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84.

Institutional Trading of Sify Technologies

An institutional investor recently raised its position 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 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,358 shares of the technology company’s stock after purchasing an additional 38,413 shares during the quarter. 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.