Sify Technologies (NASDAQ:SIFY) Shares Up 4.9% – Time to Buy?

Sify Technologies Limited (NASDAQ:SIFY) shot up 4.9% during trading on Thursday . The company traded as high as $3.44 and last traded at $3.41. 54,525 shares were traded during mid-day trading, a decline of 82% from the average session volume of 295,697 shares. The stock had previously closed at $3.25.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Sify Technologies in a research note on Saturday, October 12th. They set a “hold” rating for the company.

Sify Technologies Stock Up 14.8 %

The firm’s fifty day simple moving average is $0.85 and its 200 day simple moving average is $0.86. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84.

Hedge Funds Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. XTX Topco Ltd lifted its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 226.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,358 shares of the technology company’s stock after buying an additional 38,413 shares during the period. XTX Topco Ltd’s holdings in Sify Technologies were worth $25,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.61% of the company’s stock.

About Sify Technologies

Sify Technologies Limited offers ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The company offers internet, internet protocol, multi-protocol label switching, virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, dedicated internet access, and proactive monitoring and management of the network and devices.