Cellnex Telecom (OTCMKTS:CLLNY) Trading Down 1.5% – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price fell 1.5% during mid-day trading on Wednesday . The company traded as low as $16.62 and last traded at $16.68. 70,673 shares were traded during mid-day trading, a decline of 7% from the average session volume of 76,247 shares. The stock had previously closed at $16.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLLNY. Berenberg Bank raised shares of Cellnex Telecom to a “strong-buy” rating in a research report on Thursday, June 26th. Citigroup raised shares of Cellnex Telecom from a “hold” rating to a “buy” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Cellnex Telecom Stock Performance

The firm’s 50 day simple moving average is $17.85 and its 200 day simple moving average is $18.45.

Cellnex Telecom Company Profile

Cellnex Telecom, SA operates infrastructure for wireless telecommunication in Austria, Denmark, Spain, France, Ireland, Italy, the Netherlands, Poland, Portugal, the United Kingdom, Sweden, and Switzerland. It operates through three segments: Telecom Infrastructure Services, Broadcasting Infrastructure, and Other Network Services.