Sify Technologies (NASDAQ:SIFY) Shares Pass 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 passed 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.

Sify Technologies Stock Performance

The firm has a 50 day moving average of $8.37 and a 200-day moving average of $5.86. The stock has a market capitalization of $862.41 million, a PE ratio of 298.00 and a beta of 0.99. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.82 and a current ratio of 0.96.

Institutional Investors Weigh In On Sify Technologies

Several hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group lifted its stake in Sify Technologies by 5.6% in the 2nd quarter. Schroder Investment Management Group now owns 42,337 shares of the technology company's stock worth $194,000 after acquiring an additional 2,244 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Sify Technologies during the 1st quarter worth about $44,000. XTX Topco Ltd purchased a new stake in shares of Sify Technologies during the 2nd quarter worth about $50,000. CSS LLC IL purchased a new stake in shares of Sify Technologies during the 4th quarter worth about $135,000. Finally, Acadian Asset Management LLC raised its stake in shares of Sify Technologies by 75.4% during the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock worth $838,000 after purchasing an additional 84,958 shares in the last quarter. 0.61% of the stock is owned by hedge funds and other 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.