Cogent Communications Group Stock Falls On Unusually High Volume (CCOI)
Cogent Communications Group (Nasdaq:CCOI) is trading at unusually high volume Friday with 1.9 million shares changing hands. It is currently at 5.4 times its average daily volume and trading down $2.55 (-13.6%).
NEW YORK ( TheStreet) -- Cogent Communications Group (Nasdaq: CCOI) is trading at unusually high volume Friday with 1.9 million shares changing hands. It is currently at 5.4 times its average daily volume and trading down $2.55 (-13.6%) at $16.26 as of 10 a.m. ET. Cogent Communications Group has a market cap of $880.1 million and is part of the technology sector and telecommunications industry. Shares are up 11.4% year to date as of the close of trading on Thursday. Cogent Communications Group, Inc., together with subsidiaries, provides high-speed Internet access, Internet protocol, and communications services to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations. The company has a P/E ratio of 192, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cogent Communications Group as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including premium valuation, weak operating cash flow and generally poor debt management. You can view the full Cogent Communications Group Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.