Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – Should You Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) gapped up before the market opened on Friday . The stock had previously closed at $18.34, but opened at $19.11. Cellnex Telecom shares last traded at $18.9650, with a volume of 25,468 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on CLLNY shares. Citigroup reiterated a “buy” rating on shares of Cellnex Telecom in a research report on Thursday, February 12th. New Street Research raised shares of Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. Barclays upgraded shares of Cellnex Telecom to a “hold” rating in a research report on Friday, November 28th. Finally, The Goldman Sachs Group lowered shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The business’s 50-day simple moving average is $16.28 and its 200-day simple moving average is $16.34.

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.