Shares of Cogent fall after report
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From Times Wire Services
Cogent Inc., a South Pasadena maker of fingerprint-identification systems, saw its shares fall after a hedge fund manager told Barron’s the stock was worth about a third of last week’s closing price.
The $4 price target reflects Cogent’s few growth prospects, Barron’s said, citing the unnamed fund manager, who is betting the shares will fall.
Cogent dropped 48 cents, or 4.1%, to $11.15, paring this year’s gain to 1.3%.
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