Cellnex Telecom, S.A. (OTCMKTS:CLLNY) Short Interest Down 43.3% in March

Cellnex Telecom, S.A. (OTCMKTS:CLLNYGet Rating) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 70,300 shares, a drop of 43.3% from the March 15th total of 124,000 shares. Based on an average trading volume of 261,200 shares, the short-interest ratio is presently 0.3 days.

OTCMKTS:CLLNY opened at $24.22 on Friday. The business’s fifty day moving average price is $23.27 and its 200 day moving average price is $26.62. Cellnex Telecom has a 12 month low of $21.59 and a 12 month high of $36.87.

Several brokerages have recently issued reports on CLLNY. Barclays reduced their price objective on Cellnex Telecom from €67.00 ($72.83) to €65.00 ($70.65) in a research note on Friday, January 21st. Royal Bank of Canada reduced their price objective on Cellnex Telecom from €65.00 ($70.65) to €64.00 ($69.57) and set an “outperform” rating on the stock in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $64.50.

About Cellnex Telecom (Get Rating)

Cellnex Telecom SA engages in the operation of wireless telecommunications and broadcasting infrastructures. Its business activities include rental of sites for telecom operators, broadcast infrastructure activity, and other network services. It operates through the following geographical segments: Spain, Italy, Netherlands, France, Switzerland, and Other Countries.

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