Sify Technologies (NASDAQ:SIFY) Shares Down 9.7% - What's Next?

Key Points

• Sify Technologies' shares fell by 9.7% during trading, with a notable drop from $14.12 to $12.75 amid lower trading volume.
• Analysts have a consensus "Sell" rating on Sify Technologies, with Weiss Ratings reaffirming this view in a recent note.
• The company's market capitalization stands at approximately $898.23 million, and it maintains a high price-to-earnings ratio of 310.38.

Shares of Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) dropped 9.7% during mid-day trading on Thursday . The company traded as low as $13.41 and last traded at $12.75. Approximately 67,481 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 110,643 shares. The stock had previously closed at $14.12.

Analysts Set New Price Targets

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

Sify Technologies Trading Down 12.1%

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 business's fifty day moving average is $11.42 and its 200 day moving average is $7.08. The firm has a market capitalization of $898.23 million, a price-to-earnings ratio of 310.38 and a beta of 1.03.

Institutional Investors Weigh In On Sify Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIFY. Virtu Financial LLC acquired a new stake in Sify Technologies in the 1st quarter valued at $44,000. XTX Topco Ltd bought a new position in shares of Sify Technologies in the 2nd quarter valued at about $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 valued at $194,000 after acquiring an additional 2,244 shares during the period. Finally, Acadian Asset Management LLC grew its position 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 period. 0.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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