Sify Technologies (NASDAQ:SIFY) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Sify Technologies (NASDAQ:SIFY) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings lowered Sify Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Sify Technologies has a consensus rating of “Sell”.

Sify Technologies Price Performance

NASDAQ:SIFY opened at $15.64 on Friday. Sify Technologies has a one year low of $7.40 and a one year high of $17.85. The stock has a 50-day simple moving average of $15.33 and a 200 day simple moving average of $14.99. The company has a current ratio of 0.74, a quick ratio of 0.65 and a debt-to-equity ratio of 1.23.

Sify Technologies (NASDAQ:SIFY) last announced its quarterly earnings data on Thursday, July 16th. The technology company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Sify Technologies had a negative return on equity of 9.65% and a negative net margin of 1.97%.The firm had revenue of $130.13 million during the quarter, compared to analyst estimates of $188.23 million. Sell-side analysts forecast that Sify Technologies will post 0.02 EPS for the current year.

Institutional Investors Weigh In On Sify Technologies

A number of institutional investors have recently modified their holdings of SIFY. Parallel Advisors LLC lifted its holdings in Sify Technologies by 969.1% in the first quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,754 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sify Technologies by 59.3% in the second quarter. GAMMA Investing LLC now owns 2,319 shares of the technology company’s stock valued at $39,000 after acquiring an additional 863 shares during the period. XTX Topco Ltd bought a new position in shares of Sify Technologies during the second quarter valued at approximately $50,000. 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 valued at $241,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Sify Technologies during the 3rd quarter worth approximately $273,000. Institutional investors own 0.61% of the company’s stock.

About Sify Technologies

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.