Cogeco Communications (OTCMKTS:CGEAF) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Cogeco Communications Inc. (OTCMKTS:CGEAF)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $51.26 and traded as low as $46.63. Cogeco Communications shares last traded at $46.63, with a volume of 6,463 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on CGEAF shares. Scotiabank reissued a “sector perform” rating on shares of Cogeco Communications in a research note on Monday, January 12th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Cogeco Communications in a research note on Friday, January 16th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Cogeco Communications in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cogeco Communications has a consensus rating of “Hold”.

Cogeco Communications Trading Down 3.3%

The firm has a 50-day simple moving average of $51.26 and a 200-day simple moving average of $48.97.

Cogeco Communications Company Profile

Cogeco Communications Inc is a Canadian telecommunications company that provides broadband internet, cable television and telephony services to both residential and business customers. The company’s operations are structured around two primary networks: its Canadian footprint serving markets across Ontario and Quebec, and Atlantic Broadband, its U.S. cable subsidiary operating in several states along the East Coast. Leveraging a combination of fiber-optic and hybrid fiber-coaxial infrastructure, Cogeco Communications delivers high-speed internet access, digital video, voice-over-IP and managed network solutions.

Founded in 1957 and headquartered in Montreal, Quebec, Cogeco Communications has expanded through organic growth and strategic acquisitions.