Sify Technologies (NASDAQ:SIFY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Sify Technologies (NASDAQ:SIFY – Get Rating) in a research note released on Wednesday. The firm issued a hold rating on the technology company’s stock.

Sify Technologies Stock Performance

Shares of SIFY stock opened at $1.29 on Wednesday. Sify Technologies has a fifty-two week low of $1.05 and a fifty-two week 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. The stock’s 50-day simple moving average is $1.66 and its 200-day simple moving average is $1.61.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Sify Technologies during the fourth quarter valued at $50,000. Millennium Management LLC acquired a new stake in Sify Technologies during the 4th quarter worth about $207,000. Renaissance Technologies LLC increased its holdings in shares of Sify Technologies by 342.1% in the fourth 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. HBK Sorce Advisory LLC lifted its holdings in shares of Sify Technologies by 100.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 40,000 shares of the technology company’s stock worth $42,000 after purchasing an additional 20,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Sify Technologies by 166,434.8% in 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 during the last quarter. Institutional investors and hedge funds own 1.20% of the company’s stock.

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.