Sify Technologies Limited (NASDAQ:SIFY) Sees Significant Decrease in Short Interest – MarketBeat
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Sify Technologies Limited (NASDAQ:SIFY – Get Rating) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 220,300 shares, a decline of 26.5% from the May 31st total of 299,700 shares. Based on an average trading volume of 83,800 shares, the short-interest ratio is currently 2.6 days.
Separately, StockNews.com started coverage on shares of Sify Technologies in a research note on Saturday. They issued a “hold” rating for the company.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of Sify Technologies by 67.9% during the 1st quarter. Bank of America Corp DE now owns 24,995 shares of the technology company’s stock valued at $75,000 after buying an additional 10,108 shares during the period. BlackRock Inc. grew its stake in shares of Sify Technologies by 96.0% during the 3rd quarter. BlackRock Inc. now owns 34,437 shares of the technology company’s stock valued at $116,000 after buying an additional 16,865 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Sify Technologies by 25.8% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 49,845 shares of the technology company’s stock valued at $149,000 after buying an additional 10,234 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Sify Technologies by 75.0% during the 4th 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 period. Finally, Pinnacle Associates Ltd. grew its stake in shares of Sify Technologies by 33.0% during the 1st 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 period. 1.64% of the stock is owned by institutional investors.
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Shares of NASDAQ SIFY opened at $1.91 on Friday. Sify Technologies has a 52-week low of $1.87 and a 52-week high of $4.19. The firm has a fifty day moving average of $2.17 and a 200-day moving average of $2.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.04 and a quick ratio of 0.93.
About Sify Technologies (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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