Sify Technologies (NASDAQ:SIFY) Stock Price Up 6.1% – Here’s What Happened

Sify Technologies Limited (NASDAQ:SIFY)’s share price rose 6.1% on Wednesday . The company traded as high as $14.99 and last traded at $14.89. Approximately 25,414 shares changed hands during trading, a decline of 69% from the average daily volume of 82,570 shares. The stock had previously closed at $14.04.

Sify Technologies Stock Up 5.1%

The company’s fifty day simple moving average is $14.67 and its 200 day simple moving average is $13.00. The company has a quick ratio of 0.74, a current ratio of 0.88 and a debt-to-equity ratio of 1.55.

Sify Technologies (NASDAQ:SIFY) last released its quarterly earnings results on Monday, January 12th. The technology company reported ($0.05) earnings per share for the quarter. Sify Technologies had a negative return on equity of 15.90% and a negative net margin of 3.70%.The firm had revenue of $128.86 million during the quarter. On average, equities analysts expect that Sify Technologies Limited will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sify Technologies

Institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Sify Technologies in the 4th quarter valued at about $400,000. Renaissance Technologies LLC grew its holdings in shares of Sify Technologies by 22.2% during the fourth quarter. Renaissance Technologies LLC now owns 19,800 shares of the technology company’s stock worth $241,000 after purchasing an additional 3,600 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Sify Technologies in the third quarter worth approximately $273,000. Theleme Partners LLP purchased a new stake in Sify Technologies in the third quarter valued at approximately $13,627,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Sify Technologies in the third quarter valued at approximately $137,000. 0.61% of the stock is currently owned by institutional investors.

Sify Technologies Company Profile

Sify Technologies Limited is an India‐based provider of integrated information and communications technology solutions, catering primarily to enterprise and government clients. The company’s core offerings include network services, data center hosting, cloud computing, managed security, unified communications, and digital transformation solutions. Sify’s end-to-end portfolio is designed to support critical IT infrastructure, enabling clients to scale operations, improve reliability, and accelerate technology adoption.

In the networking domain, Sify operates a nationwide IP‐MPLS backbone with extensive fiber infrastructure and a global internet peering footprint.