Sify Technologies (NASDAQ:SIFY) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Sify Technologies Limited (NASDAQ:SIFY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.94 and traded as high as $15.64. Sify Technologies shares last traded at $15.31, with a volume of 72,442 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on SIFY. Weiss Ratings downgraded Sify Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of Sify Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Sify Technologies Trading Down 0.3%

The stock has a 50 day moving average price of $15.42 and a 200-day moving average price of $14.95. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.65 and a current ratio of 0.74.

Sify Technologies (NASDAQ:SIFY) last released its earnings results on Thursday, July 16th. The technology company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Sify Technologies had a negative return on equity of 9.65% and a negative net margin of 1.97%.The company had revenue of $130.13 million during the quarter, compared to analyst estimates of $188.23 million. As a group, analysts anticipate that Sify Technologies Limited will post 0.02 EPS for the current year.

Institutional Trading of Sify Technologies

A number of institutional investors have recently made changes to their positions in SIFY. Parallel Advisors LLC grew its holdings in shares of Sify Technologies by 969.1% in the first quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,754 shares during the last quarter. GAMMA Investing LLC boosted its position in Sify Technologies by 59.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,319 shares of the technology company’s stock valued at $39,000 after buying an additional 863 shares during the period. XTX Topco Ltd purchased a new stake in Sify Technologies during the 2nd quarter valued at $50,000. Renaissance Technologies LLC grew its holdings in Sify Technologies by 22.2% in the 4th quarter. Renaissance Technologies LLC now owns 19,800 shares of the technology company’s stock worth $241,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in Sify Technologies in the 3rd quarter worth $273,000. Hedge funds and other institutional investors own 0.61% of the company’s stock.

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.