Cbeyond falls 11% on downgrade to ‘sell’
Atlanta-based Cbeyond Inc. (Nasdaq:CBEY) has shed 11% today after Citigroup downgraded the company to “sell” from “hold.” The research firm said it was concerned about bleak news from rival companies being an indicator of softness in the sector. Cbeyond is a telecommunications provider. In today’s trading, shares are at $14.80 at 12:48 p.m. ET, down about $1.83 from Friday’s close. Trading volume is nearly double the average amount of shares. During the past year, the stock has ranged from $13.94 to $46.51.
For detailed price information and recent news information about Cbeyond Inc., click CBEY.
