Sify Technologies Limited (NASDAQ:SIFY) Sees Significant Increase in Short Interest

Sify Technologies Limited (NASDAQ:SIFY) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,440,000 shares, a growth of 114.0% from the May 31st total of 1,140,000 shares. Based on an average daily volume of 393,900 shares, the short-interest ratio is presently 6.2 days.

Sify Technologies Stock Performance

Shares of NASDAQ SIFY remained flat at $0.44 during midday trading on Friday. The company had a trading volume of 165,301 shares, compared to its average volume of 263,163. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84. Sify Technologies has a 52-week low of $0.35 and a 52-week high of $3.37. The company’s 50-day moving average is $1.01 and its two-hundred day moving average is $1.31.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Sify Technologies in a research report on Saturday, June 22nd. They set a “hold” rating on the stock.

Hedge Funds Weigh In On Sify Technologies

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

Sify Technologies Company Profile

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.