Cellnex Telecom (OTCMKTS:CLLNY) Shares Down 1.4% – Here’s What Happened

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) dropped 1.4% during mid-day trading on Friday . The company traded as low as $15.30 and last traded at $15.38. Approximately 82,549 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 158,458 shares. The stock had previously closed at $15.60.

Analyst Ratings Changes

CLLNY has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. New Street Research upgraded shares of Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. Finally, Barclays raised Cellnex Telecom to a “hold” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cellnex Telecom currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Down 1.4%

The business’s fifty day moving average is $15.31 and its 200-day moving average is $16.50.

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.