StockNews.com Begins Coverage on Sify Technologies (NASDAQ:SIFY)

StockNews.com initiated coverage on shares of Sify Technologies (NASDAQ:SIFY) in a report published on Wednesday morning. The firm issued a sell rating on the technology company’s stock.

Sify Technologies Stock Performance

Shares of Sify Technologies stock opened at $0.36 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84. Sify Technologies has a 52-week low of $0.30 and a 52-week high of $2.05. The company has a fifty day moving average of $0.40 and a 200-day moving average of $0.83.

Sify Technologies shares are scheduled to reverse split on Friday, October 4th. The 1-6 reverse split was announced on Wednesday, September 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, October 3rd.

Institutional Investors Weigh In On Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd grew its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,358 shares of the technology company’s stock after purchasing an additional 38,413 shares during the quarter. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.

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.