Sify Technologies (NASDAQ:SIFY) Stock Price Down 4.6% - Should You Sell?

Key Points

• Sify Technologies shares fell 4.6% during mid-day trading, dropping to $12.46, significantly below the previous closing price of $13.06.
• Analysts, including Weiss Ratings, maintain a "sell" rating on the stock, with an average rating of "sell" from various analysts.
• Institutional investors have shown mixed interest, with some increasing their stakes significantly, while overall 0.61% of the stock is currently owned by institutional investors.

Shares of Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) fell 4.6% during mid-day trading on Friday . The stock traded as low as $12.50 and last traded at $12.46. 59,286 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 115,482 shares. The stock had previously closed at $13.06.

Analyst Ratings Changes

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

Sify Technologies Stock Down 5.6%

The company has a 50 day simple moving average of $11.93 and a two-hundred day simple moving average of $7.43. 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 company has a market capitalization of $892.08 million, a P/E ratio of 308.25 and a beta of 1.03.

Institutional Investors Weigh In On Sify Technologies

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Sify Technologies during the first quarter valued at approximately $44,000. XTX Topco Ltd bought a new position in shares of Sify Technologies during the second quarter valued at approximately $50,000. Schroder Investment Management Group grew its stake in shares of 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 buying an additional 2,244 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Sify Technologies by 75.4% during the first quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock valued at $838,000 after buying an additional 84,958 shares during the last quarter. 0.61% of the stock is owned by institutional investors.

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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