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

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) gapped down prior to trading on Wednesday . The stock had previously closed at $18.95, but opened at $17.65. Cellnex Telecom shares last traded at $17.57, with a volume of 4,387 shares.

Wall Street Analyst Weigh In

CLLNY has been the topic of several research reports. Citigroup restated a “buy” rating on shares of Cellnex Telecom in a research report on Thursday, February 12th. Barclays raised Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. The Goldman Sachs Group lowered Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Finally, New Street Research raised Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The stock has a 50 day simple moving average of $16.39 and a 200 day simple moving average of $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.