Sify Technologies (NASDAQ:SIFY) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Sify Technologies (NASDAQ:SIFY – Get Rating) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the technology company’s stock.

Sify Technologies Trading Up 4.0 %

Shares of NASDAQ:SIFY opened at $1.29 on Friday. Sify Technologies has a fifty-two week low of $1.05 and a fifty-two week high of $2.46. The business has a 50-day moving average of $1.27 and a two-hundred day moving average of $1.43. The company has a quick ratio of 0.84, a current ratio of 0.98 and a debt-to-equity ratio of 0.73.

Hedge Funds Weigh In On Sify Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC grew its stake in shares of Sify Technologies by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the technology company’s stock valued at $42,000 after purchasing an additional 20,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Sify Technologies in the 4th quarter valued at approximately $50,000. Bank of America Corp DE grew its stake in shares of Sify Technologies by 67.9% in 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 grew its stake 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 during the period. Finally, Millennium Management LLC bought a new stake in shares of Sify Technologies in the 4th quarter valued at approximately $207,000. 1.20% of the stock is currently owned by 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.