Sify Technologies (NASDAQ:SIFY) Shares Up 13.1% - Here's What Happened

Key Points

• Sify Technologies shares surged by 13.1% to last trade at $13.30, following a midday trading session that saw significant activity with 131,373 shares exchanged.
• Despite the recent stock surge, Weiss Ratings maintained a "sell" rating for Sify Technologies, reflecting a cautious outlook among analysts.
• Institutional investors have increased their positions in Sify Technologies, with Acadian Asset Management raising its holdings by 75.4% in the first quarter.

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) shares shot up 13.1% during mid-day trading on Friday . The company traded as high as $13.47 and last traded at $13.30. 131,373 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 112,859 shares. The stock had previously closed at $11.76.

Analysts Set New Price Targets

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

Sify Technologies Trading Up 10.6%

The firm has a market capitalization of $940.98 million, a PE ratio of 328.38 and a beta of 1.03. 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 price is $11.50 and its 200 day moving average price is $7.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in 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 acquiring an additional 84,958 shares in the last quarter. Schroder Investment Management Group increased its stake in Sify Technologies by 5.6% during 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 during the last quarter. XTX Topco Ltd bought a new stake in Sify Technologies during the second quarter valued at $50,000. Finally, Virtu Financial LLC bought a new stake in Sify Technologies during the first quarter valued at $44,000. 0.61% of the stock is 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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