Cogent Communications Holdings Inc’s filing revealed that its CHAIRMAN, CEO, AND PRESIDENT SCHAEFFER DAVE unloaded Company’s shares for reported $4.37 million on Aug 27 ’24. In the deal valued at $72.82 per share,60,000 shares were sold. As a result of this transaction, SCHAEFFER DAVE now holds 4,373,038 shares worth roughly $306.03 million.
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Then, David Schaeffer bought 60,000 shares, generating $4,377,000 in total proceeds.
Before that, Chang John B. bought 2,800 shares. Cogent Communications Holdings Inc shares valued at $201,600 were divested by the Officer at a price of $72.00 per share.
BofA Securities downgraded its Cogent Communications Holdings Inc [CCOI] rating to an Underperform from a a Neutral in a research note published on August 21, 2024; the price target was decreased to $65 from $75. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in early July with a ‘”a Neutral”‘ rating. BofA Securities also remained covering CCOI and has decreased its forecast on March 07, 2024 with a “Neutral” recommendation from previously “Buy” rating. Goldman revised its rating on August 21, 2023. It rated CCOI as “a Neutral” which previously was an “a Sell”.
Price Performance Review of CCOI
On Friday, Cogent Communications Holdings Inc [NASDAQ:CCOI] saw its stock fall -0.27% to $69.98. Over the last five days, the stock has lost -4.04%. Cogent Communications Holdings Inc shares have fallen nearly -7.99% since the year began. Nevertheless, the stocks have fallen -0.68% over the past one year. While a 52-week high of $86.00 was reached on 02/29/24, a 52-week low of $50.80 was recorded on 06/11/24. SMA at 50 days reached $65.60, while 200 days put it at $66.96.
Levels Of Support And Resistance For CCOI Stock
The 24-hour chart illustrates a support level at 68.90, which if violated will result in even more drops to 67.82. On the upside, there is a resistance level at 70.93. A further resistance level may holdings at 71.88. The Relative Strength Index (RSI) on the 14-day chart is 49.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.18%. Stochastics %K at 22.46% indicates the stock is a holding.
How much short interest is there in Cogent Communications Holdings Inc?
A steep rise in short interest was recorded in Cogent Communications Holdings Inc stocks on 2024-08-15, growing by 0.21 million shares to a total of 4.98 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 4.77 million shares. There was a rise of 4.18%, which implies that there is a positive sentiment for the stock.
