Cogent Communications (NASDAQ:CCOI) Trading 7.5% Higher – Here’s Why

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) rose 7.5% on Friday . The company traded as high as $11.08 and last traded at $11.1240. 1,319,792 shares were traded during trading, an increase of 3% from the average session volume of 1,278,664 shares. The stock had previously closed at $10.35.

More Cogent Communications News

Here are the key news stories impacting Cogent Communications this week:

• Neutral Sentiment: UBS lowered its price target for Cogent Communications from $17 to $11 and maintained a “neutral” rating, implying limited upside or modest downside based on the referenced trading level. Citi and RBC also recently cut their targets to $11.50 and $12, respectively, while retaining neutral or sector-perform ratings. Benzinga analyst actions
• Negative Sentiment: Several law firms publicized a securities class action against Cogent, seeking to represent investors who purchased shares between February 29, 2024, and May 1, 2026. The allegations reportedly involve disclosures concerning demand, wavelength backlog, growth prospects, dividend sustainability and forced-sale risks. The claims have not been proven, but the litigation could create legal costs, reputational damage and additional uncertainty for investors. Hagens Berman class action notice
• Negative Sentiment: The deadline for investors to seek appointment as lead plaintiff is September 21, 2026. The unusually high volume of investor-alert announcements reinforces the market’s focus on the lawsuit and the underlying disclosure concerns. Kaplan Fox class action notice

Wall Street Analyst Weigh In

Several analysts recently issued reports on CCOI shares. TD Cowen reduced their price target on Cogent Communications from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wall Street Zen upgraded Cogent Communications from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Wells Fargo & Company dropped their target price on Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Weiss Ratings cut shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Finally, KeyCorp decreased their price target on shares of Cogent Communications from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.05.

Cogent Communications Stock Up 9.2%

The company’s fifty day moving average price is $13.15 and its 200 day moving average price is $18.14. The company has a market capitalization of $579.14 million, a P/E ratio of -11.72 and a beta of 0.80.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $2.38. The business had revenue of $235.56 million during the quarter, compared to analysts’ expectations of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.21) earnings per share. Research analysts predict that Cogent Communications Holdings, Inc. will post -2.7 earnings per share for the current fiscal year.

Cogent Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 21st. Cogent Communications’s dividend payout ratio is presently -8.33%.

Insider Buying and Selling at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.01, for a total value of $40,824.00. Following the completion of the transaction, the vice president owned 38,600 shares of the company’s stock, valued at $656,586. The trade was a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total value of $81,431.50. Following the completion of the transaction, the chief financial officer directly owned 197,900 shares of the company’s stock, valued at approximately $3,322,741. This trade represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Cogent Communications

Several hedge funds have recently bought and sold shares of CCOI. Parallel Advisors LLC raised its position in shares of Cogent Communications by 208.6% in the 1st quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $27,000 after buying an additional 968 shares in the last quarter. Quarry LP acquired a new stake in shares of Cogent Communications during the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Cogent Communications in the fourth quarter valued at approximately $28,000. Hantz Financial Services Inc. raised its position in Cogent Communications by 313.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Cogent Communications during the fourth quarter valued at approximately $43,000. 92.45% of the stock is owned by institutional investors.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.