Weiss Ratings Reaffirms Sell (D) Rating for Sify Technologies (NASDAQ:SIFY)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Sify Technologies (NASDAQ:SIFY), indicating a negative outlook on the stock.
• Sify Technologies' stock opened at $16.18 with a market capitalization of $1.17 billion and a high P/E ratio of 404.50.
• Institutional investors have recently increased their stakes in Sify Technologies, with Acadian Asset Management boosting its position by 75.4% in the first quarter.

Sify Technologies (NASDAQ:SIFY - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Sify Technologies Stock Performance

NASDAQ:SIFY opened at $16.18 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. Sify Technologies has a fifty-two week low of $2.56 and a fifty-two week high of $16.38. The stock has a market cap of $1.17 billion, a PE ratio of 404.50 and a beta of 1.03. The firm's fifty day simple moving average is $10.51 and its 200-day simple moving average is $6.68.

Hedge Funds Weigh In On Sify Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Sify Technologies during the 1st quarter worth $44,000. XTX Topco Ltd purchased a new stake in shares of Sify Technologies in the 2nd quarter worth about $50,000. Schroder Investment Management Group boosted its position 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 worth $194,000 after buying an additional 2,244 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position 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 worth $838,000 after buying an additional 84,958 shares in the last quarter. 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.

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