Cogent Communications Holdings Inc (NASDAQ:CCOI) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 2,293,600 shares, an increase of 6.2% from the June 15th total of 2,158,700 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average trading volume of 241,700 shares, the short-interest ratio is currently 9.5 days.

Shares of CCOI stock traded up $1.04 during trading hours on Friday, reaching $63.51. The company had a trading volume of 159,611 shares, compared to its average volume of 200,016. Cogent Communications has a 12 month low of $42.40 and a 12 month high of $63.84. The firm has a fifty day moving average of $60.78. The company has a market capitalization of $2.94 billion, a P/E ratio of 100.81, a price-to-earnings-growth ratio of 8.85 and a beta of 0.56.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $134.20 million during the quarter, compared to the consensus estimate of $135.21 million. Cogent Communications had a negative return on equity of 22.47% and a net margin of 5.92%. Cogent Communications’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. As a group, research analysts predict that Cogent Communications will post 0.9 EPS for the current year.

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 1,500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $57.11, for a total value of $85,665.00. Following the transaction, the chief financial officer now owns 78,950 shares in the company, valued at $4,508,834.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Blake Bath sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.88, for a total value of $578,800.00. Following the completion of the transaction, the director now owns 18,425 shares in the company, valued at approximately $1,066,439. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,425 shares of company stock worth $1,949,397. Corporate insiders own 10.17% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP increased its position in shares of Cogent Communications by 29.2% during the first quarter. Royce & Associates LP now owns 810 shares of the technology company’s stock valued at $44,000 after acquiring an additional 183 shares during the last quarter. Arbor Wealth Management LLC purchased a new stake in shares of Cogent Communications during the second quarter valued at approximately $59,000. Quadrant Capital Group LLC increased its position in shares of Cogent Communications by 296.4% during the first quarter. Quadrant Capital Group LLC now owns 1,328 shares of the technology company’s stock valued at $70,000 after acquiring an additional 993 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Cogent Communications by 163.6% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,476 shares of the technology company’s stock valued at $88,000 after acquiring an additional 916 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of Cogent Communications by 43.3% during the fourth quarter. Advisor Group Inc. now owns 1,609 shares of the technology company’s stock valued at $72,000 after acquiring an additional 486 shares during the last quarter. 89.48% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on CCOI shares. CIBC raised their target price on Quebecor from C$34.00 to C$35.00 in a report on Friday, May 10th. BidaskClub lowered Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday. Deutsche Bank lowered Cogent Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Oppenheimer set a $2.00 target price on Valeritas and gave the company a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $56.57.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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