Cogent Communications Group Stock Hits New 52-Week High (CCOI)

NEW YORK ( TheStreet) -- Cogent Communications Group (Nasdaq: CCOI) hit a new 52-week high Monday as it is currently trading at $19.60, above its previous 52-week high of $19.49 with 49,273 shares traded as of 10 a.m. ET. Average volume has been 517,600 shares over the past 30 days.

Cogent Communications Group has a market cap of $694.5 million and is part of the technology sector and telecommunications industry. Shares are up 11.6% year to date as of the close of trading on Friday.

Cogent Communications Group, Inc. provides high-speed Internet access, Internet Protocol, and communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Japan. The company has a P/E ratio of 111, below the average telecommunications industry P/E ratio of 151.5 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cogent Communications Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, compelling growth in net income and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Cogent Communications Group Ratings Report.

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