Cogent Communications Group Stock Falls On Unusually High Volume (CCOI)

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.

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