Shares of Cogent Communications Holdings (CCOI) Sees Large Outflow of Money

Cogent Communications Holdings (CCOI) : Tuesdays money flow analysis of Cogent Communications Holdings (CCOI) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $0.93 million. In comparison, the inflow of money on upticks was a meager $0.24 million. The dollar value of composite uptick trades minus the downtick trades was negative $0.69 million. The uptick to downtick ratio of 0.26 in the money flow shows weakness. The downtick transaction value was high at $0.73 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($0.73 million). Cogent Communications Holdings (CCOI) gained $0.05 at $36.39, a change of 0.14% over the previous days close.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Cogent Communications Holdings (NASDAQ:CCOI). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Citigroup lowers the price target from $45 per share to $41 per share. The rating by the firm was issued on August 12, 2016.

Cogent Communications Holdings, Inc. has lost 1.67% in the last five trading days and dropped 16.27% in the last 4 weeks. Cogent Communications Holdings, Inc. has dropped 8.71% during the last 3-month period . Year-to-Date the stock performance stands at 6.85%.

Cogent Communications Holdings (NASDAQ:CCOI): The stock opened at $36.48 on Tuesday but the bulls could not build on the opening and the stock topped out at $36.67 for the day. The stock traded down to $35.74 during the day, due to lack of any buying support eventually closed down at $35.98 with a loss of -0.99% for the day. The stock had closed at $36.34 on the previous day. The total traded volume was 316,951 shares.

In a related news, The Securities and Exchange Commission has divulged that Kilmer Henry W, officer (VP of IP Engineering) of Cogent Communications Holdings, Inc., had unloaded 1,000 shares at an average price of $42.15 in a transaction dated on August 3, 2016. The total value of the transaction was worth $42,150.

Cogent Communications Holdings, Inc. is a facility-based provider of Internet access, Internet Protocol (IP) and communications services. The Companys network is designed and optimized to transmit data using IP. The Company delivers its services to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Japan. The Company offers on-net Internet access services through its own facilities, which run from its network to its customers premises. The Company offers its on-net services to customers located in buildings that are physically connected to its network. Its on-net service consists of Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. It provides its on-net Internet access services to its net-centric and corporate customers.

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