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

Research analysts at StockNews.com began coverage on shares of Sify Technologies (NASDAQ:SIFYGet Rating) in a research note issued to investors on Friday. The firm set a “hold” rating on the technology company’s stock.

Shares of NASDAQ SIFY opened at $1.98 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.78. Sify Technologies has a 12-month low of $1.87 and a 12-month high of $4.19.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of 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 worth $75,000 after buying an additional 10,108 shares during the period. BlackRock Inc. boosted its position in shares of Sify Technologies by 96.0% during the third quarter. BlackRock Inc. now owns 34,437 shares of the technology company’s stock worth $116,000 after buying an additional 16,865 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Sify Technologies by 25.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 49,845 shares of the technology company’s stock worth $149,000 after purchasing an additional 10,234 shares during the period. Envestnet Asset Management Inc. lifted its position in Sify Technologies by 75.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 102,442 shares of the technology company’s stock worth $331,000 after purchasing an additional 43,900 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in Sify Technologies by 33.0% in the first quarter. Pinnacle Associates Ltd. now owns 224,635 shares of the technology company’s stock worth $672,000 after purchasing an additional 55,750 shares during the period. Institutional investors and hedge funds own 1.64% 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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