Currently, there are 48.61M common shares owned by the public and among those 44.16M shares have been available to trade.
The company’s stock has a 5-day price change of -4.04% and 18.17% over the past three months. CCOI shares are trading -7.99% year to date (YTD), with the 12-month market performance down to -0.68% lower. It has a 12-month low price of $50.80 and touched a high of $86.00 over the same period. CCOI has an average intraday trading volume of 521.04K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.85%, 7.25%, and 4.56% respectively.
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Institutional ownership of Cogent Communications Holdings Inc (NASDAQ: CCOI) shares accounts for 94.43% of the company’s 48.61M shares outstanding.
It has a market capitalization of $3.43B and a beta (3y monthly) value of 0.39. The stock’s trailing 12-month PE ratio is 77.10, while the earnings-per-share (ttm) stands at $0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.34% over the week and 3.51% over the month.
Earnings per share for the fiscal year are expected to decrease by -116.79%, and 22.71% over the next financial year. EPS should shrink at an annualized rate of -0.48% over the next five years, compared to 111.69% over the past 5-year period.
Looking at the support for the CCOI, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on August 21, 2024, with the firm’s price target at $75-$65. Goldman coverage for the Cogent Communications Holdings Inc (CCOI) stock in a research note released on July 01, 2024 offered a Neutral rating with a price target of $56. BofA Securities was of a view on March 07, 2024 that the stock is Neutral, while Goldman gave the stock Neutral rating on August 21, 2023, issuing a price target of $43- $64. TD Cowen on their part issued Outperform rating on August 11, 2023.
