Short Interest in Sify Technologies Limited (NASDAQ:SIFY) Declines By 49.9%

Sify Technologies Limited (NASDAQ:SIFY) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 37,700 shares, a drop of 49.9% from the March 31st total of 75,200 shares. Based on an average daily volume of 81,800 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Sify Technologies

A hedge fund recently raised its stake in Sify Technologies stock. Acadian Asset Management LLC lifted its holdings in Sify Technologies Limited (NASDAQ:SIFY) by 100.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 509,303 shares of the technology company’s stock after buying an additional 255,050 shares during the period. Acadian Asset Management LLC owned about 0.28% of Sify Technologies worth $928,000 as of its most recent SEC filing. 0.61% of the stock is currently owned by institutional investors and hedge funds.

Sify Technologies Trading Down 5.6 %

Shares of NASDAQ SIFY traded down $0.07 during mid-day trading on Friday, reaching $1.19. The company had a trading volume of 20,104 shares, compared to its average volume of 50,064. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.99 and a current ratio of 1.10. The company has a 50-day moving average price of $1.29 and a two-hundred day moving average price of $1.48. Sify Technologies has a 1-year low of $1.07 and a 1-year high of $3.37.

Analysts Set New Price Targets

SIFY has been the topic of several research analyst reports. TheStreet cut Sify Technologies from a “c-” rating to a “d+” rating in a research report on Friday, February 2nd. StockNews.com initiated coverage on Sify Technologies in a research report on Saturday. They set a “hold” rating on the stock.

About Sify Technologies

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