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 $100,338 were sold by Chang John B. on Sep 12 ’24. At $71.67 per share, Chang John B. sold 1,400 shares. The insider’s holdings dropped to 71,580 shares worth approximately $6.06 million following the completion of this transaction.
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Also, SCHAEFFER DAVE sold 65,000 shares, netting a total of over 4,663,555 in proceeds. Following the sale of shares at $71.75 each, the insider now holds 4,308,038 shares.
Before that, Kennedy Sheryl Lynn had sold 1,550 shares from its account. In a trade valued at $110,139, the Director traded Cogent Communications Holdings Inc shares for $71.06 each. Upon closing the transaction, the insider’s holdings decreased to 1,550 shares, worth approximately $0.87 million.
As published in a research note from BofA Securities on August 21, 2024, Cogent Communications Holdings Inc [CCOI] has been rated down from a Neutral to an Underperform and the price target has been revised to $65 from $75. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in early July. As of March 07, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for CCOI. Earlier on August 21, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for CCOI stock which previously was a “a Sell”.
Analyzing CCOI Stock Performance
During the last five days, there has been a surge of approximately 3.81%. Over the course of the year, Cogent Communications Holdings Inc shares have jumped approximately 11.36%. 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 $76.83, while a 200-day SMA reached $68.41. Nevertheless, trading volume fell to 0.66 million shares from 0.3 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 82.19, which, if violated, would cause prices to drop to 79.69. In the upper region, resistance lies at 86.57. The next price resistance is at 88.45. RSI (Relative Strength Index) is 67.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.24, which suggests the price will decrease in the coming days. Percent R is at 20.60%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
