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

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

Sify Technologies Trading Down 10.5 %

Shares of SIFY stock opened at $0.36 on Wednesday. The firm 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 52 week low of $0.30 and a 52 week high of $2.05.

Sify Technologies shares are going to reverse split before the market opens 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 closing bell on Thursday, October 3rd.

Institutional Trading of Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd boosted its stake in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,358 shares of the technology company’s stock after buying 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. 0.61% of the stock is owned by institutional investors.

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.