Sify Technologies (NASDAQ:SIFY) Shares Up 8% – Here’s What Happened

Sify Technologies Limited (NASDAQ:SIFY)’s stock price shot up 8% during mid-day trading on Tuesday . The company traded as high as $12.24 and last traded at $12.1660. 30,373 shares traded hands during trading, a decline of 74% from the average session volume of 117,727 shares. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Sify Technologies in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sify Technologies currently has an average rating of “Sell”.

Sify Technologies Trading Down 5.8%

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 business has a 50-day moving average price of $12.60 and a 200-day moving average price of $8.46.

Institutional Trading of Sify Technologies

A number of hedge funds have recently bought and sold shares of the company. Theleme Partners LLP purchased a new position in shares of Sify Technologies in the third quarter worth approximately $13,627,000. Acadian Asset Management LLC boosted its stake in 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 purchasing an additional 84,958 shares during the period. Schroder Investment Management Group boosted 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 purchasing an additional 2,244 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Sify Technologies during the 3rd quarter worth approximately $273,000. Finally, XTX Topco Ltd acquired a new stake in Sify Technologies during the 2nd quarter valued at $50,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

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.