Short Interest in Sify Technologies Limited (NASDAQ:SIFY) Declines By 49.9%

Sify Technologies Limited (NASDAQ:SIFY) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 37,700 shares, a decline of 49.9% from the March 31st total of 75,200 shares. Based on an average trading volume of 81,800 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. Acadian Asset Management LLC lifted its position in Sify Technologies Limited (NASDAQ:SIFY) by 100.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,303 shares of the technology company’s stock after buying an additional 255,050 shares during the period. Acadian Asset Management LLC owned about 0.28% of Sify Technologies worth $928,000 as of its most recent SEC filing. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Sify Technologies Stock Down 5.6 %

Shares of SIFY traded down $0.07 during trading hours on Friday, reaching $1.19. The stock had a trading volume of 20,104 shares, compared to its average volume of 50,064. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.10 and a quick ratio of 0.99. Sify Technologies has a 52 week low of $1.07 and a 52 week high of $3.37. The firm has a 50-day moving average of $1.29 and a 200 day moving average of $1.48.

Analysts Set New Price Targets

SIFY has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Sify Technologies in a research report on Saturday. They set a “hold” rating for the company. TheStreet cut shares of Sify Technologies from a “c-” rating to a “d+” rating in a research report on Friday, February 2nd.

About Sify Technologies

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.