BidaskClub upgraded shares of Sify Technologies (NASDAQ:SIFY) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Separately, Sidoti initiated coverage on shares of Sify Technologies in a research note on Tuesday, January 9th. They set a $3.00 target price for the company.

Shares of Sify Technologies (NASDAQ SIFY) traded down $0.01 during trading hours on Thursday, hitting $2.05. 150,255 shares of the company’s stock were exchanged, compared to its average volume of 125,762. Sify Technologies has a 52 week low of $0.69 and a 52 week high of $3.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.12 and a quick ratio of 1.03.

A hedge fund recently raised its stake in Sify Technologies stock. Renaissance Technologies LLC raised its stake in shares of Sify Technologies Limited (NASDAQ:SIFY) by 56.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 374,100 shares of the technology company’s stock after buying an additional 134,400 shares during the period. Renaissance Technologies LLC owned about 0.96% of Sify Technologies worth $669,000 as of its most recent SEC filing. Institutional investors own 3.88% of the company’s stock.

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About Sify Technologies

Sify Technologies Limited (Sify) is an integrated information and communications technology (ICT) solutions and services company. The Company’s segments are Telecom services, which includes domestic data, international data wholesale voice and network managed services; Data Centre services, which includes co-location services; Cloud and managed services, which includes information technology (IT) infra services, IT transformation services, remote and onsite infrastructure managed services and delivery platforms; Technology integration services, which includes data center build, network integration, information security, end-user computing, and collaborative tools and solutions, and Applications integration services, which includes application development and maintenance, application testing, mobility solutions, e-learning, portals, tools, process and automation.

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