Sify Technologies (NASDAQ:SIFY) Reaches New 1-Year High - What's Next?

Key Points

• Sify Technologies shares have reached a new 52-week high of $17.80, closing at $17.30 with a trading volume of 142,797 shares.
• Despite the recent price surge, Weiss Ratings restated a "sell (d)" rating on the stock, indicating a cautious outlook from analysts.
• The company has seen significant changes in investor holdings, with Acadian Asset Management LLC increasing its shares by 75.4%, reflecting growing institutional interest.

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $17.80 and last traded at $17.30, with a volume of 142797 shares changing hands. The stock had previously closed at $16.50.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Sify Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sify Technologies has an average rating of "Sell".

Sify Technologies Price Performance

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 business's 50-day moving average price is $10.88 and its two-hundred day moving average price is $6.87. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 433.13 and a beta of 1.03.

Hedge Funds Weigh In On Sify Technologies

Several large investors have recently modified their holdings of SIFY. Virtu Financial LLC acquired a new position in Sify Technologies in the first quarter worth about $44,000. XTX Topco Ltd bought a new position in Sify Technologies during the 2nd quarter worth approximately $50,000. Schroder Investment Management Group grew its position in shares of Sify Technologies by 5.6% in the 2nd 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 in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Sify Technologies by 75.4% in the 1st 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. Institutional investors own 0.61% of the company's stock.

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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