Short Interest in Sify Technologies Limited (NASDAQ:SIFY) Declines By 18.5%

Sify Technologies Limited (NASDAQ:SIFY) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 55,000 shares, a decrease of 18.5% from the January 15th total of 67,500 shares. Based on an average trading volume of 89,300 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Sify Technologies from a “sell” rating to a “hold” rating in a research report on Monday, October 28th.

Sify Technologies Stock Performance

Shares of NASDAQ:SIFY opened at $4.39 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.95 and a current ratio of 1.08. Sify Technologies has a 52 week low of $1.82 and a 52 week high of $10.14. The firm has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $2.94.

Sify Technologies (NASDAQ:SIFY) last issued its quarterly earnings results on Friday, January 17th. The technology company reported ($999.00) EPS for the quarter. Sify Technologies had a negative net margin of 0.69% and a negative return on equity of 2.85%. Research analysts forecast that Sify Technologies will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Sify Technologies

A hedge fund recently bought a new stake in Sify Technologies stock. XTX Topco Ltd bought a new position in Sify Technologies Limited (NASDAQ:SIFY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,041 shares of the technology company’s stock, valued at approximately $32,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

About Sify Technologies

Sify Technologies Limited offers ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The company offers internet, internet protocol, multi-protocol label switching, virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, dedicated internet access, and proactive monitoring and management of the network and devices.