StockNews.com initiated coverage on shares of Sify Technologies (NASDAQ:SIFY – Get Rating) in a report issued on Wednesday. The brokerage issued a hold rating on the technology company's stock.

Sify Technologies Price Performance

Shares of SIFY stock opened at $1.29 on Wednesday. The company's 50-day simple moving average is $1.66 and its two-hundred day simple moving average is $1.61. Sify Technologies has a one year low of $1.05 and a one year high of $3.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.84 and a current ratio of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SIFY. HBK Sorce Advisory LLC grew its position in shares of Sify Technologies by 100.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the technology company's stock worth $42,000 after buying an additional 20,000 shares in the last quarter. Virtu Financial LLC bought a new position in Sify Technologies during the 4th quarter worth about $50,000. Bank of America Corp DE increased its position in Sify Technologies by 67.9% during the 1st quarter. Bank of America Corp DE now owns 24,995 shares of the technology company's stock valued at $75,000 after purchasing an additional 10,108 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Sify Technologies by 342.1% in the 4th quarter. Renaissance Technologies LLC now owns 84,000 shares of the technology company's stock valued at $97,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Sify Technologies in the 4th quarter worth approximately $207,000. 1.20% of the stock is currently owned by hedge funds and other institutional investors.

Sify Technologies Company Profile

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Sify Technologies Ltd. engages in the provision of integrated Internet, network, and electronic commerce services in India. It operates through the following segments: Network-centric Services, and Data Center-centric Information Technology Services. The Network-centric Services segment includes domestic data, international data wholesale voice, and network managed services.

Further Reading

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