CCOI Stock Summary and Trading Ideas (Cogent Comms Hldgs | NASDAQ:CCOI)

Cogent carries over one fifth of the world's internet traffic over its network and is a broadband provider for businesses. Cogent's corporate customers are in high-rise office buildings; the firm provides them with two types of connections: dedicated internet access, which connects them to the internet, and virtual private networking, which offers an internal network for employees in different locations. Cogent's corporate customers are exclusively in North America and account for over half of the firm's revenue. Cogent's netcentric customers include internet service providers and content providers, to which Cogent provides internet transit. They hand traffic to Cogent in data centers and rely on Cogent to deliver it. About half of netcentric revenue is from outside the US.

Cogent Comms Hldgs trades on the NASDAQ stock market under the symbol CCOI.

As of April 23, 2024, CCOI stock price declined to $64.43 with 178,604 million shares trading.

CCOI has a beta of 0.67, meaning it tends to be less sensitive to market movements. CCOI has a correlation of 0.07 to the broad based SPY ETF.

CCOI has a market cap of $3.16 billion. This is considered a Mid Cap stock.

Last quarter Cogent Comms Hldgs reported $272 million in Revenue and -$1.20 earnings per share. This beat revenue expectation by $649,000 and missed earnings estimates by -$.33.

In the last 3 years, CCOI stock traded as high as $86.00 and as low as $46.75.

The top ETF exchange traded funds that CCOI belongs to (by Net Assets): IJR, VTI, VB, IWM, VBK.

CCOI has underperformed the market in the last year with a return of +1.3%, while the SPY ETF gained +24.2%. In the last 3 month period, CCOI fell short of the market, returning -14.5%, while SPY returned +4.9%. However, in the most recent 2 weeks CCOI has outperformed the stock market by returning +0.1%, while SPY returned -2.6%.

CCOI support price is $63.50 and resistance is $65.52 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CCOI stock will trade within this expected range on the day.