Sify Technologies (NASDAQ:SIFY) Hits New 52-Week High - Should You Buy?

Key Points

• Sify Technologies reached a new 52-week high at $6.99, with significant trading volume of 53,300 shares.
• The company has a market cap of $480.77 million and a P/E ratio of 167.25, indicating high investor valuation despite a relatively low current and quick ratio.
• Recent institutional investments included Acadian Asset Management boosting its stake by 75.4%, reflecting growing investor interest in Sify Technologies.

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $6.99 and last traded at $6.98, with a volume of 53300 shares. The stock had previously closed at $6.49.

Sify Technologies Stock Down 0.3%

The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. The stock has a market cap of $481.85 million, a PE ratio of 166.50 and a beta of 0.92. The business has a 50 day moving average price of $5.03 and a 200 day moving average price of $4.50.

Institutional Trading of Sify Technologies

A number of hedge funds have recently modified their holdings of the stock. CSS LLC IL purchased a new stake in shares of Sify Technologies in the fourth quarter valued at approximately $135,000. XTX Topco Ltd acquired a new position in shares of Sify Technologies during the 4th quarter worth approximately $32,000. Acadian Asset Management LLC raised its stake in shares of Sify Technologies by 75.4% during the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock worth $838,000 after buying an additional 84,958 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Sify Technologies during the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 0.61% of the company's stock.

Sify Technologies Company Profile

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.