NEW YORK ( TheStreet) -- Cogent Communications Group Incorporated (Nasdaq: CCOI) hit a new 52-week high Friday as it traded at $16.14 compared with its previous 52-Week high of $15.57. Cogent Communications Group is changing hands at $15.89 with 61,228 shares traded as of 9:37 a.m. ET. Average volume has been 244,400 shares over the past 30 days. Cogent Communications Group has a market cap of $662 million and is part of the technology sector and telecommunications industry. Shares are up 6.9% year to date as of the close of trading on Thursday. 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. The company has a P/E ratio of 1444, above the S&P 500 P/E ratio of 21.5. TheStreet Ratings rates Cogent Communications Group as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Cogent Communications Group Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.