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

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped up before the market opened on Friday . The stock had previously closed at $18.34, but opened at $19.11. Cellnex Telecom shares last traded at $18.9650, with a volume of 25,468 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CLLNY shares. The Goldman Sachs Group downgraded Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. 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. Finally, New Street Research raised shares of Cellnex Telecom to a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cellnex Telecom Trading Up 3.5%

The business’s fifty day moving average price is $16.22 and its 200-day moving average price is $16.33.

About Cellnex Telecom

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.