Short Interest in Sify Technologies Limited (NASDAQ:SIFY) Drops By 29.3%

Sify Technologies Limited (NASDAQ:SIFY - Get Free Report) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 108,300 shares, a decrease of 29.3% from the October 31st total of 153,100 shares. Based on an average daily trading volume, of 842,700 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Sify Technologies

An institutional investor recently raised its position in Sify Technologies stock. XTX Topco Ltd raised its holdings in shares of Sify Technologies Limited (NASDAQ:SIFY - Free Report) by 226.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,358 shares of the technology company's stock after acquiring an additional 38,413 shares during the quarter. XTX Topco Ltd's holdings in Sify Technologies were worth $25,000 as of its most recent SEC filing. 0.61% of the stock is owned by institutional investors and hedge funds.

Sify Technologies Stock Performance

NASDAQ:SIFY traded up $0.01 on Friday, reaching $3.46. 68,604 shares of the company's stock traded hands, compared to its average volume of 274,813. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.03 and a quick ratio of 0.89. The stock has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $3.37. Sify Technologies has a 12 month low of $1.82 and a 12 month high of $12.30.

Analysts Set New Price Targets

Separately, StockNews.com raised Sify Technologies from a "sell" rating to a "hold" rating in a report on Monday, October 28th.

Sify Technologies Company Profile

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.

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