Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cogent Communications Holdings Inc shares valued at $3,276,000 were sold by SCHAEFFER DAVE on Jun 12 ’24. At $54.60 per share, SCHAEFFER DAVE sold 60,000 shares. The insider’s holdings dropped to 4,493,038 shares worth approximately $232.65 million following the completion of this transaction.
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Also, Montagner Marc purchased 10,000 shares, netting a total of over 526,130 in proceeds. Following the buying of shares at $52.61 each, the insider now holds 79,468 shares.
Before that, WEED THADDEUS GERARD had sold 2,400 shares from its account. In a trade valued at $126,252, the VICE PRESIDENT, CFO traded Cogent Communications Holdings Inc shares for $52.60 each. Upon closing the transaction, the insider’s holdings decreased to 2,400 shares, worth approximately $4.83 million.
As published in a research note from BofA Securities on March 07, 2024, Cogent Communications Holdings Inc [CCOI] has been rated down from a Buy to a Neutral and the price target has been revised to $75. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in late August. As of August 11, 2023, TD Cowen has increased its “Market perform” rating to a “an Outperform” for CCOI. Earlier on May 08, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for CCOI stock which previously was a “an Overweight”.
Analyzing CCOI Stock Performance
During the last five days, there has been a drop of approximately -8.69%. Over the course of the year, Cogent Communications Holdings Inc shares have dropped approximately -31.92%. Shares of the company reached a 52-week high of $86.00 on 02/29/24 and a 52-week low of $50.80 on 06/11/24. A 50-day SMA is recorded $60.79, while a 200-day SMA reached $67.14. Nevertheless, trading volume fell to 0.51 million shares from 0.74 million shares the previous day.
Support And Resistance Levels for Cogent Communications Holdings Inc (CCOI)
According to the 24-hour chart, there is a support level at 50.93, which, if violated, would cause prices to drop to 50.09. In the upper region, resistance lies at 53.42. The next price resistance is at 55.07. RSI (Relative Strength Index) is 30.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.54, which suggests the price will decrease in the coming days. Percent R is at 90.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
