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

Key Points

• Sify Technologies shares reached a new 52-week high of $9.84, indicating a significant increase from its previous closing price of $9.43.
• The company's market capitalization is approximately $711.20 million with a P/E ratio of 245.75, reflecting its positioning in the technology sector.
• Recent institutional trading has seen firms like Schroder Investment Management increase their holdings in Sify Technologies, highlighting growing interest among investors.

Sify Technologies Limited (NASDAQ:SIFY - ) shares reached a new 52-week high on Tuesday . The stock traded as high as $9.84 and last traded at $9.82, with a volume of 209924 shares traded. The stock had previously closed at $9.43.

Sify Technologies Trading Up 4.2%

The firm has a market capitalization of $711.20 million, a P/E ratio of 245.75 and a beta of 0.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.96. The firm has a 50 day moving average price of $6.61 and a two-hundred day moving average price of $5.26.

Institutional Trading of Sify Technologies

A number of hedge funds have recently modified their holdings of the business. Schroder Investment Management Group lifted 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 valued at $194,000 after purchasing an additional 2,244 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Sify Technologies in the second quarter valued at $50,000. Acadian Asset Management LLC lifted its holdings in shares of Sify Technologies by 75.4% in the first 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Sify Technologies in the first quarter valued at $44,000. Finally, CSS LLC IL purchased a new stake in shares of Sify Technologies in the fourth quarter valued at $135,000. Hedge funds and other 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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