Cogent Communications Holdings Inc’s recently made public that its VP & CHIEF LEGAL OFFICER Chang John B. unloaded Company’s shares for reported $0.1 million on Sep 12 ’24. In the deal valued at $71.67 per share,1,400 shares were sold. As a result of this transaction, Chang John B. now holds 71,580 shares worth roughly $5.76 million.
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Then, SCHAEFFER DAVE sold 65,000 shares, generating $4,663,555 in total proceeds. Upon selling the shares at $71.75, the CHAIRMAN, CEO, AND PRESIDENT now owns 4,308,038 shares.
Before that, Kennedy Sheryl Lynn sold 1,550 shares. Cogent Communications Holdings Inc shares valued at $110,139 were divested by the Director at a price of $71.06 per share. As a result of the transaction, Kennedy Sheryl Lynn now holds 10,216 shares, worth roughly $0.82 million.
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 Monday, Cogent Communications Holdings Inc [NASDAQ:CCOI] saw its stock fall -3.94% to $80.45. Over the last five days, the stock has lost -1.20%. Cogent Communications Holdings Inc shares have risen nearly 5.77% since the year began. Nevertheless, the stocks have risen 17.89% over the past one year. While a 52-week high of $86.76 was reached on 11/07/24, a 52-week low of $50.80 was recorded on 06/11/24. SMA at 50 days reached $77.59, while 200 days put it at $68.52.
Levels Of Support And Resistance For CCOI Stock
The 24-hour chart illustrates a support level at 79.34, which if violated will result in even more drops to 78.22. On the upside, there is a resistance level at 82.57. A further resistance level may holdings at 84.68. The Relative Strength Index (RSI) on the 14-day chart is 48.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bearish at 92.25%. Stochastics %K at 47.71% 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 2024-10-15, dropping by -0.32 million shares to a total of 4.15 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 4.47 million shares. There was a decline of -7.7%, which implies that there is a negative sentiment for the stock.
