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

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

Sify Technologies Trading Down 2.5 %

Shares of SIFY opened at $1.48 on Wednesday. The stock has a 50-day simple moving average of $1.68 and a 200-day simple moving average of $1.97. The company has a current ratio of 0.98, a quick ratio of 0.84 and a debt-to-equity ratio of 0.73. Sify Technologies has a 1 year low of $1.43 and a 1 year high of $3.77.

Hedge Funds Weigh In On Sify Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SIFY. Envestnet Asset Management Inc. boosted its stake in shares of Sify Technologies by 19.3% in the 1st 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 during the period. Pinnacle Associates Ltd. raised its position in shares of Sify Technologies by 33.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 224,635 shares of the technology company’s stock worth $672,000 after acquiring an additional 55,750 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Sify Technologies by 25.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 49,845 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,234 shares in the last quarter. Bank of America Corp DE raised its position in shares of Sify Technologies by 67.9% during the 1st quarter. Bank of America Corp DE now owns 24,995 shares of the technology company’s stock worth $75,000 after acquiring an additional 10,108 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Sify Technologies by 166,434.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 148,216 shares of the technology company’s stock worth $289,000 after acquiring an additional 148,127 shares in the last quarter. Hedge funds and other institutional investors own 1.38% of the company’s stock.

About Sify Technologies

(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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