Sify Technologies (NASDAQ:SIFY) Hits New 1-Year High - Still a Buy?

Key Points

• Sify Technologies' stock reached a new 52-week high of $7.65, up 27.2% from its previous close of $6.60, with a trading volume of 165,344 shares.
• The company has a market capitalization of $607.38 million and a P/E ratio of 209.88, indicating potentially high valuation relative to earnings.
• Recent activity from institutional investors includes acquisitions, with Acadian Asset Management increasing its holdings by 75.4% to now own 197,563 shares valued at $838,000.

Shares of Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.65 and last traded at $7.63, with a volume of 165344 shares trading hands. The stock had previously closed at $6.60.

Sify Technologies Trading Up 3.7%

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 has a market cap of $593.27 million, a price-to-earnings ratio of 205.00 and a beta of 0.92. The business's fifty day moving average price is $5.22 and its 200 day moving average price is $4.62.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SIFY. XTX Topco Ltd acquired a new stake in shares of Sify Technologies in the fourth quarter valued at about $32,000. Virtu Financial LLC acquired a new position in shares of Sify Technologies in the first quarter worth approximately $44,000. CSS LLC IL bought a new stake in Sify Technologies in the fourth quarter valued at approximately $135,000. Finally, Acadian Asset Management LLC increased its position in Sify Technologies by 75.4% during the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock valued at $838,000 after purchasing an additional 84,958 shares during the period. 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.