Sify Technologies (NASDAQ:SIFY) Stock Price Breaks Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Sify Technologies shares fell below their 200-day moving average, trading as low as $13.13 versus the $14.83 average, and last changing hands at $13.33.
• Analyst sentiment is negative: Wall Street Zen downgraded the stock to “hold,” Weiss Ratings reaffirmed a “sell (D-)” rating, and MarketBeat reports an average “Sell” rating.
• The company met quarterly EPS expectations at $0.01 but significantly missed revenue forecasts, reporting $130.13 million versus $188.23 million expected; it also posted negative net margin and return on equity.

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $14.83 and traded as low as $13.13. Sify Technologies shares last traded at $13.33, with a volume of 36,034 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SIFY. Wall Street Zen downgraded Sify Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sify Technologies in a research report on Friday, September 25th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sify Technologies has an average rating of "Sell".

Sify Technologies Stock Up 0.2%

The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.65 and a current ratio of 0.74. The firm's fifty day moving average is $14.40 and its 200 day moving average is $14.83.

Sify Technologies (NASDAQ:SIFY - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $130.13 million during the quarter, compared to analysts' expectations of $188.23 million. Sify Technologies had a negative return on equity of 9.65% and a negative net margin of 1.97%. On average, research analysts forecast that Sify Technologies Limited will post 0.02 EPS for the current year.

Institutional Investors Weigh In On Sify Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Theleme Partners LLP bought a new stake in shares of Sify Technologies in the second quarter worth $21,239,000. Allianz Asset Management GmbH bought a new position in Sify Technologies during the 2nd quarter worth $1,262,000. Liontrust Investment Partners LLP raised its position in Sify Technologies by 6.2% during the 1st quarter. Liontrust Investment Partners LLP now owns 135,109 shares of the technology company's stock worth $1,728,000 after purchasing an additional 7,850 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Sify Technologies by 969.1% during the 1st quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company's stock worth $25,000 after buying an additional 1,754 shares during the period. Finally, Allworth Financial LP lifted its holdings in Sify Technologies by 50.6% during the 2nd quarter. Allworth Financial LP now owns 3,828 shares of the technology company's stock worth $64,000 after buying an additional 1,286 shares during the period. Institutional investors own 0.61% of the company's stock.

Sify Technologies Company Profile

Sify Technologies Limited is an India-based digital transformation and information and communications technology (ICT) services company. It provides enterprise customers with integrated solutions spanning cloud computing, data center infrastructure, networking, cybersecurity and managed IT services.

The company's offerings include colocation and hyperscale data center services, cloud solutions, network connectivity, security services, application management and digital transformation support.

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