Sify Technologies (NASDAQ:SIFY) Trading Up 3.4% – Still a Buy?

Shares of Sify Technologies Limited (NASDAQ:SIFY) shot up 3.4% during trading on Friday . The company traded as high as $12.80 and last traded at $12.58. 46,966 shares traded hands during trading, a decline of 58% from the average session volume of 110,965 shares. The stock had previously closed at $12.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Sify Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Sify Technologies Trading Up 2.7%

The stock’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $9.69. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 1.55.

Institutional Investors Weigh In On Sify Technologies

Large investors have recently made changes to their positions in the business. Lighthouse Investment Partners LLC purchased a new position in shares of Sify Technologies in the 3rd quarter worth about $273,000. Theleme Partners LLP purchased a new stake in Sify Technologies during the third quarter worth about $13,627,000. Baader Bank Aktiengesellschaft bought a new stake in Sify Technologies in the third quarter worth about $137,000. Schroder Investment Management Group raised its position in Sify Technologies by 5.6% in the second quarter. Schroder Investment Management Group now owns 42,337 shares of the technology company’s stock worth $194,000 after acquiring an additional 2,244 shares during the period. Finally, XTX Topco Ltd purchased a new position in Sify Technologies in the second quarter valued at about $50,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

Sify Technologies Company Profile

Sify Technologies Limited is an India‐based provider of integrated information and communications technology solutions, catering primarily to enterprise and government clients. The company’s core offerings include network services, data center hosting, cloud computing, managed security, unified communications, and digital transformation solutions. Sify’s end-to-end portfolio is designed to support critical IT infrastructure, enabling clients to scale operations, improve reliability, and accelerate technology adoption.

In the networking domain, Sify operates a nationwide IP‐MPLS backbone with extensive fiber infrastructure and a global internet peering footprint.