NEW YORK (

TheStreet

) -- Shares of

Cogent Communications Group Incorporated

(Nasdaq:

CCOI

) were gapping up Thursday morning with an open price 11.2% higher than Wednesday's closing price. The stock closed at $13.86 Wednesday and opened today's trading at $15.41.

The average volume for Cogent Communications Group has been 229,000 shares per day over the past 30 days. Cogent Communications Group has a market cap of $643.5 million and is part of the

technology

sector and

telecommunications

industry. Shares are down 2% year to date as of the close of trading on Wednesday.

Cogent Communications Group, Inc., together with subsidiaries, provides high-speed Internet access and Internet Protocol, or communications services to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations.

TheStreet Ratings rates Cogent Communications Group as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full

Cogent Communications Group Ratings Report

.

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