Cellnex Telecom (OTCMKTS:CLLNY) Sees Large Volume Increase – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) saw strong trading volume on Wednesday . 407,359 shares traded hands during trading, an increase of 140% from the previous session’s volume of 169,562 shares.The stock last traded at $18.23 and had previously closed at $18.10.

Analyst Upgrades and Downgrades

CLLNY has been the subject of several recent research reports. The Goldman Sachs Group cut shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Citigroup reissued a “buy” rating on shares of Cellnex Telecom in a research note on Thursday, February 12th. Barclays upgraded Cellnex Telecom to a “hold” rating in a report on Friday, November 28th. Finally, New Street Research upgraded Cellnex Telecom to a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Up 0.9%

The stock has a fifty day moving average of $16.10 and a 200-day moving average of $16.31.

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.