Short Interest in Sify Technologies Limited (NASDAQ:SIFY) Decreases By 90.2%

Sify Technologies Limited (NASDAQ:SIFY) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 333,800 shares, a decline of 90.2% from the June 30th total of 3,420,000 shares. Based on an average trading volume of 605,600 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Sify Technologies in a research note on Wednesday. They set a “hold” rating on the stock.

Sify Technologies Price Performance

NASDAQ:SIFY remained flat at $0.43 during trading hours on Friday. 166,908 shares of the company’s stock traded hands, compared to its average volume of 322,803. The firm has a fifty day simple moving average of $0.68 and a 200 day simple moving average of $1.11. Sify Technologies has a one year low of $0.30 and a one year high of $2.54. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.84.

Sify Technologies Company Profile

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.