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

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $16.41. Cellnex Telecom shares last traded at $16.39, with a volume of 46,937 shares traded.

Wall Street Analyst Weigh In

CLLNY has been the subject of a number of research reports. New Street Research upgraded Cellnex Telecom to a “buy” rating in a research note on Wednesday, December 17th. 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. Finally, Barclays upgraded shares of Cellnex Telecom to a “hold” rating in a research report on Friday, November 28th. One research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Up 5.8%

The firm has a fifty day simple moving average of $15.34 and a 200-day simple moving average of $16.41.

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.