Sify Technologies Limited (NASDAQ:SIFY) Sees Significant Drop 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 during the month of August. As of August 15th, there was short interest totalling 95,400 shares, a decline of 48.6% from the July 31st total of 185,600 shares. Based on an average daily volume of 53,800 shares, the days-to-cover ratio is presently 1.8 days.
Sify Technologies Price Performance
Shares of NASDAQ:SIFY opened at $2.22 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.04 and a quick ratio of 0.93. The business has a 50-day moving average price of $2.15 and a two-hundred day moving average price of $2.49. Sify Technologies has a 1-year low of $1.87 and a 1-year high of $4.00.
Institutional Trading of Sify Technologies
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of Sify Technologies by 40.6% in the 4th quarter. Acadian Asset Management LLC now owns 299,786 shares of the technology company’s stock valued at $966,000 after acquiring an additional 86,507 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Sify Technologies by 33.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 224,635 shares of the technology company’s stock valued at $672,000 after acquiring an additional 55,750 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Sify Technologies by 166,434.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 148,216 shares of the technology company’s stock valued at $289,000 after acquiring an additional 148,127 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Sify Technologies by 19.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 122,198 shares of the technology company’s stock valued at $365,000 after acquiring an additional 19,756 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Sify Technologies by 25.8% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 49,845 shares of the technology company’s stock valued at $149,000 after acquiring an additional 10,234 shares during the last quarter. 1.64% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on Sify Technologies in a report on Friday, August 19th. They set a “hold” rating for the company.
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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