Cellnex Telecom (OTCMKTS:CLLNY) Sees Large Volume Increase – Time to Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares saw unusually-high trading volume on Monday . Approximately 176,195 shares traded hands during mid-day trading, an increase of 216% from the previous session’s volume of 55,714 shares.The stock last traded at $16.07 and had previously closed at $16.04.

Analysts Set New Price Targets

Several research firms recently weighed in on CLLNY. Citigroup upgraded shares of Cellnex Telecom from a “hold” rating to a “buy” rating in a research report on Friday, September 19th. New Street Research raised Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. Finally, Barclays upgraded 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 one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cellnex Telecom currently has an average rating of “Buy”.

Cellnex Telecom Stock Up 0.2%

The stock’s fifty day simple moving average is $15.25 and its 200 day simple moving average is $16.95.

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.