StockNews.com Initiates Coverage on Sify Technologies (NASDAQ:SIFY) – MarketBeat
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Research analysts at StockNews.com initiated coverage on shares of Sify Technologies (NASDAQ:SIFY – Get Rating) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the technology company’s stock.
Shares of NASDAQ SIFY opened at $1.98 on Friday. Sify Technologies has a 1 year low of $1.87 and a 1 year high of $4.19. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $2.26 and its 200-day simple moving average is $2.78.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Sify Technologies by 67.9% during the first 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 during the last quarter. BlackRock Inc. increased its position in shares of Sify Technologies by 96.0% during the third quarter. BlackRock Inc. now owns 34,437 shares of the technology company’s stock worth $116,000 after acquiring an additional 16,865 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Sify Technologies by 25.8% during the first 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 during the last quarter. Envestnet Asset Management Inc. increased its holdings in Sify Technologies by 75.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 102,442 shares of the technology company’s stock valued at $331,000 after buying an additional 43,900 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in Sify Technologies by 33.0% in the first quarter. Pinnacle Associates Ltd. now owns 224,635 shares of the technology company’s stock valued at $672,000 after buying an additional 55,750 shares during the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.
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Sify Technologies Company Profile (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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