Sify Technologies (NASDAQ:SIFY) Hits New 12-Month High - Here's Why

Key Points

• Sify Technologies shares reached a new 52-week high of $14.61 during trading, closing at $14.44 with a volume of 99,184 shares, up from a previous close of $13.23.
• Despite recent price increases, Weiss Ratings has assigned a "sell (d)" rating to Sify Technologies, reflecting a consensus rating of "Sell" among analysts.
• Institutional investors are increasingly interested in Sify Technologies, with Acadian Asset Management increasing its holdings by 75.4%, now owning 197,563 shares valued at $838,000.

Shares of Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $14.61 and last traded at $14.44, with a volume of 99184 shares traded. The stock had previously closed at $13.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Sify Technologies in a research note on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

Sify Technologies Stock Up 10.9%

The company has a market cap of $1.06 billion, a P/E ratio of 366.75 and a beta of 1.03. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.82. The company's 50-day moving average is $9.96 and its two-hundred day moving average is $6.49.

Institutional Investors Weigh In On Sify Technologies

Large investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Sify Technologies in the 1st quarter worth about $44,000. XTX Topco Ltd purchased a new position in shares of Sify Technologies in the 2nd quarter worth $50,000. Schroder Investment Management Group grew its holdings in shares of Sify Technologies by 5.6% in the second quarter. Schroder Investment Management Group now owns 42,337 shares of the technology company's stock worth $194,000 after acquiring an additional 2,244 shares during the period. Finally, Acadian Asset Management LLC increased its position in Sify Technologies by 75.4% during the first quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock valued at $838,000 after acquiring an additional 84,958 shares during the last quarter. 0.61% of the stock is currently 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.

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