Sify Technologies (NASDAQ:SIFY) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Sify Technologies (NASDAQ:SIFY) from a buy rating to a hold rating in a research report released on Saturday morning.

Separately, Weiss Ratings lowered Sify Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Sify Technologies Stock Performance

NASDAQ:SIFY opened at $15.80 on Friday. The firm’s fifty day simple moving average is $15.36 and its 200 day simple moving average is $14.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.65 and a current ratio of 0.74. Sify Technologies has a twelve month low of $7.40 and a twelve month high of $17.85.

Sify Technologies (NASDAQ:SIFY) last announced its quarterly earnings results on Thursday, July 16th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Sify Technologies had a negative return on equity of 9.65% and a negative net margin of 1.97%.The firm had revenue of $130.13 million during the quarter, compared to the consensus estimate of $188.23 million. As a group, research analysts expect that Sify Technologies will post 0.02 earnings per share for the current year.

Institutional Investors Weigh In On Sify Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Sify Technologies by 59.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,319 shares of the technology company’s stock valued at $39,000 after buying an additional 863 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Sify Technologies by 969.1% during the first quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,754 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sify Technologies by 22.2% during the fourth quarter. Renaissance Technologies LLC now owns 19,800 shares of the technology company’s stock worth $241,000 after acquiring an additional 3,600 shares during the last quarter. Liontrust Investment Partners LLP increased its position in shares of Sify Technologies by 6.2% during the first quarter. Liontrust Investment Partners LLP now owns 135,109 shares of the technology company’s stock worth $1,728,000 after acquiring an additional 7,850 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Sify Technologies in the second quarter worth about $50,000. Hedge funds and other institutional investors own 0.61% of the company’s stock.

Sify Technologies Company Profile

Sify Technologies Limited is an India?based provider of integrated information and communications technology solutions, catering primarily to enterprise and government clients. The company’s core offerings include network services, data center hosting, cloud computing, managed security, unified communications, and digital transformation solutions. Sify’s end-to-end portfolio is designed to support critical IT infrastructure, enabling clients to scale operations, improve reliability, and accelerate technology adoption.

In the networking domain, Sify operates a nationwide IP?MPLS backbone with extensive fiber infrastructure and a global internet peering footprint.