Sify Technologies (NASDAQ:SIFY) Sees Large Volume Increase - Should You Buy?

Key Points

• Sify Technologies saw a significant increase in trading volume by 54%, with 159,659 shares traded on Wednesday, although the stock price decreased from the previous close of $17.07 to $14.72.
• Wall Street analysts, including Weiss Ratings, have generally rated Sify Technologies with a "Sell" recommendation, signaling caution for potential investors.
• Institutional investors' activity includes significant stake increases, with Acadian Asset Management increasing their stake by 75.4%, highlighting some investor interest despite the negative ratings.

Shares of Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) saw an uptick in trading volume on Wednesday . 159,659 shares traded hands during mid-day trading, an increase of 54% from the previous session's volume of 103,719 shares.The stock last traded at $14.72 and had previously closed at $17.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sify Technologies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company 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 firm has a 50-day moving average of $11.31 and a 200-day moving average of $7.03. The stock has a market cap of $881.01 million, a PE ratio of 309.15 and a beta of 1.03.

Institutional Trading of Sify Technologies

A number of large investors have recently added to or reduced their stakes in SIFY. Virtu Financial LLC bought a new stake in Sify Technologies in the 1st quarter worth approximately $44,000. Acadian Asset Management LLC increased its stake in Sify Technologies by 75.4% in the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock worth $838,000 after acquiring an additional 84,958 shares during the last quarter. XTX Topco Ltd bought a new stake in Sify Technologies in the 2nd quarter worth approximately $50,000. Finally, Schroder Investment Management Group boosted its holdings 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 purchasing an additional 2,244 shares during the period. 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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