Sify Technologies (NASDAQ:SIFY) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Sify Technologies' stock has recently surpassed its 200-day moving average, rising to a trading price of $12.45, significantly above the average of $5.81.
• The company has a market capitalization of $900.76 million and its shares have shown a 2.4% increase in value.
• Multiple institutional investors have increased their stakes in Sify Technologies, with notable purchases from Virtu Financial and Acadian Asset Management, indicating growing confidence in the company.

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.81 and traded as high as $12.49. Sify Technologies shares last traded at $12.45, with a volume of 107,605 shares traded.

Sify Technologies Stock Down 0.2%

The business has a 50-day simple moving average of $8.52 and a two-hundred day simple moving average of $5.92. 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 company has a market capitalization of $860.97 million, a price-to-earnings ratio of 297.50 and a beta of 0.98.

Institutional Trading of Sify Technologies

Several hedge funds have recently modified their holdings of SIFY. Virtu Financial LLC acquired a new stake in shares of Sify Technologies in the 1st quarter valued at approximately $44,000. XTX Topco Ltd acquired a new stake in shares of Sify Technologies in the 2nd quarter valued at approximately $50,000. Schroder Investment Management Group lifted 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 valued at $194,000 after buying an additional 2,244 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings 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 buying an additional 84,958 shares during the period. 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.