Sify Technologies (NASDAQ:SIFY) Trading Down 3.8% - Should You Sell?

Key Points

• Sify Technologies' stock price has decreased by 3.8% to $11.75, following a trading session with a volume of 49,981 shares, which is significantly below its average daily volume of 96,923 shares.
• The company's market capitalization stands at $845.05 million with a notably high PE ratio of 292.00 and a debt-to-equity ratio of 1.40.
• Recent activity from institutional investors shows Acadian Asset Management LLC increasing its stake by 75.4%, highlighting growing interest in Sify Technologies.

Sify Technologies Limited (NASDAQ:SIFY - )'s stock price dropped 3.8% during trading on Thursday . The company traded as low as $11.82 and last traded at $11.75. Approximately 49,981 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 96,923 shares. The stock had previously closed at $12.22.

Sify Technologies Stock Performance

The firm has a market cap of $845.05 million, a PE ratio of 292.00 and a beta of 0.99. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.82. The stock has a 50-day moving average price of $7.50 and a 200 day moving average price of $5.55.

Institutional Investors Weigh In On Sify Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in 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 acquiring an additional 84,958 shares during the period. CSS LLC IL acquired a new position in shares of Sify Technologies during the fourth quarter worth about $135,000. XTX Topco Ltd acquired a new position in shares of Sify Technologies in the second quarter worth about $50,000. Virtu Financial LLC acquired a new position in shares of Sify Technologies in the first quarter worth about $44,000. Finally, Schroder Investment Management Group lifted its stake in shares of Sify Technologies by 5.6% in the second 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. Hedge funds and other institutional investors own 0.61% of the company's stock.

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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