Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Down – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $16.01, but opened at $15.60. Cellnex Telecom shares last traded at $15.6565, with a volume of 1,264 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CLLNY shares. Barclays upgraded Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. The Goldman Sachs Group lowered shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research note on Friday. Citigroup upgraded shares of Cellnex Telecom from a “hold” rating to a “buy” rating in a research note on Friday, September 19th. Finally, New Street Research raised shares of Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cellnex Telecom presently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The firm’s 50 day simple moving average is $15.25 and its 200 day simple moving average is $16.90.

Cellnex Telecom Company Profile

Cellnex Telecom SA is a leading independent wireless telecommunications infrastructure operator based in Barcelona, Spain. The company designs, builds and manages telecom tower sites and related connectivity solutions, offering site rental services to mobile network operators, broadcasters and enterprises. Its portfolio includes macro sites, distributed antenna systems (DAS), small cells, in-building coverage, fiber networks and edge computing nodes, all aimed at enhancing voice, data and next-generation digital services.

Founded as a spin-off from Abertis Infraestructuras in 2015, Cellnex launched an initial public offering on the Madrid Stock Exchange in May of that year.