Sify Technologies (NASDAQ:SIFY) Trading Down 5.7% - Here's What Happened

Key Points

• Sify Technologies stock price dropped by 5.7% to $12.89 during mid-day trading, with trading volume decreasing by 50% from the average.
• The company's market capitalization stands at $924.63 million, with a P/E ratio of 319.50 and a debt-to-equity ratio of 1.40.
• Institutional investors are actively purchasing shares, with significant increases in stakes from firms like Acadian Asset Management LLC and Schroder Investment Management Group.

Sify Technologies Limited (NASDAQ:SIFY - )'s share price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $12.89 and last traded at $12.89. 49,120 shares were traded during mid-day trading, a decline of 50% from the average session volume of 99,002 shares. The stock had previously closed at $13.66.

Sify Technologies Stock Performance

The company has a market capitalization of $924.63 million, a P/E ratio of 319.50 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.40. The company's 50 day moving average is $9.52 and its 200-day moving average is $6.30.

Institutional Trading of Sify Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Sify Technologies during the 1st quarter valued at about $44,000. XTX Topco Ltd bought a new stake in Sify Technologies during the 2nd quarter valued at about $50,000. Schroder Investment Management Group increased its stake in Sify Technologies by 5.6% during the 2nd 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 in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Sify Technologies by 75.4% during the 1st quarter. Acadian Asset Management LLC now owns 197,563 shares of the technology company's stock valued at $838,000 after purchasing an additional 84,958 shares in the last quarter. 0.61% of the stock is currently 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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