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

Equities researchers at StockNews.com began coverage on shares of Sify Technologies (NASDAQ:SIFYGet Rating) in a report issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

Sify Technologies Stock Performance

Shares of SIFY opened at $1.48 on Wednesday. Sify Technologies has a one year low of $1.43 and a one year high of $3.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.84. The stock has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.97.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in Sify Technologies by 19.3% during the first quarter. Envestnet Asset Management Inc. now owns 122,198 shares of the technology company’s stock valued at $365,000 after buying an additional 19,756 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sify Technologies by 166,434.8% during the second quarter. JPMorgan Chase & Co. now owns 148,216 shares of the technology company’s stock valued at $289,000 after buying an additional 148,127 shares in the last quarter. Bank of America Corp DE raised its stake in Sify Technologies by 67.9% during the first quarter. Bank of America Corp DE now owns 24,995 shares of the technology company’s stock valued at $75,000 after buying an additional 10,108 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Sify Technologies by 25.8% during the first quarter. Mercer Global Advisors Inc. ADV now owns 49,845 shares of the technology company’s stock valued at $149,000 after buying an additional 10,234 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Sify Technologies by 33.0% during the first quarter. Pinnacle Associates Ltd. now owns 224,635 shares of the technology company’s stock valued at $672,000 after buying an additional 55,750 shares in the last quarter. Hedge funds and other institutional investors own 1.38% of the company’s stock.

Sify Technologies Company Profile

(Get Rating)

Sify Technologies Limited provides integrated ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The Network Centric Services segment offers internet, internet protocol and multi-protocol label switching virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, managed services, dedicated internet access, and proactive monitoring and management of the network and devices.

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