Sify Technologies (NASDAQ:SIFY) Shares Break Below 200-Day Moving Average – Time to Sell?

Sify Technologies Limited (NASDAQ:SIFY) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $14.83 and traded as low as $13.13. Sify Technologies shares last traded at $13.33, with a volume of 36,034 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sify Technologies in a report on Friday, September 25th. Wall Street Zen downgraded Sify Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Sify Technologies has a consensus rating of “Sell”.

Sify Technologies Stock Performance

The company’s 50 day simple moving average is $14.38 and its 200 day simple moving average is $14.82. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.65 and a current ratio of 0.74.

Sify Technologies (NASDAQ:SIFY) last issued its quarterly earnings results on Thursday, July 16th. The technology company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Sify Technologies had a negative net margin of 1.97% and a negative return on equity of 9.65%. The company had revenue of $130.13 million during the quarter, compared to analyst estimates of $188.23 million. As a group, research analysts forecast that Sify Technologies Limited will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SIFY. Allianz Asset Management GmbH acquired a new position in shares of Sify Technologies in the 2nd quarter worth approximately $1,262,000. Theleme Partners LLP bought a new stake in Sify Technologies during the second quarter worth approximately $21,239,000. Allworth Financial LP grew its position in Sify Technologies by 50.6% in the second quarter. Allworth Financial LP now owns 3,828 shares of the technology company’s stock worth $64,000 after buying an additional 1,286 shares during the last quarter. GAMMA Investing LLC grew its position in Sify Technologies by 59.3% in the second quarter. GAMMA Investing LLC now owns 2,319 shares of the technology company’s stock worth $39,000 after buying an additional 863 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Sify Technologies by 969.1% in the first quarter. Parallel Advisors LLC now owns 1,935 shares of the technology company’s stock valued at $25,000 after buying an additional 1,754 shares in the last quarter. 0.61% of the stock is owned by institutional investors and hedge funds.

Sify Technologies Company Profile

Sify Technologies Limited is an India-based digital transformation and information and communications technology (ICT) services company. It provides enterprise customers with integrated solutions spanning cloud computing, data center infrastructure, networking, cybersecurity and managed IT services.

The company’s offerings include colocation and hyperscale data center services, cloud solutions, network connectivity, security services, application management and digital transformation support.