Sify Technologies (NASDAQ:SIFY) Stock Price Up 4.9% – Here’s What Happened

Sify Technologies Limited (NASDAQ:SIFY)’s stock price was up 4.9% during mid-day trading on Thursday . The company traded as high as $3.44 and last traded at $3.41. Approximately 54,525 shares changed hands during trading, a decline of 82% from the average daily volume of 295,697 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Sify Technologies in a research note on Saturday, October 12th. They issued a “hold” rating on the stock.

Sify Technologies Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $0.85 and its two-hundred day moving average is $0.86.

Institutional Investors Weigh In On Sify Technologies

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

About Sify Technologies

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.