Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped up before the market opened on Thursday. The stock had previously closed at $13.67, but opened at $14.25. Cellnex Telecom shares last traded at $14.17, with a volume of 12,402 shares.

Wall Street Analyst Weigh In

CLLNY has been the subject of several analyst reports. The Goldman Sachs Group downgraded Cellnex Telecom from a “hold” rating to a “sell” rating in a research note on Friday, September 4th. UBS Group cut Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Barclays upgraded Cellnex Telecom to an “overweight” rating in a report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cellnex Telecom currently has an average rating of “Hold”.

Cellnex Telecom Stock Up 3.9%

The firm has a fifty day moving average price of $14.48 and a 200-day moving average price of $15.46.

About Cellnex Telecom

Cellnex Telecom, SA is a Spanish independent telecommunications infrastructure company that owns and operates wireless communications assets. Its infrastructure supports mobile network operators, broadcasters, governments and other organizations that require reliable connectivity.

The company’s activities include managing telecommunications towers and rooftop sites, distributed antenna systems, small-cell networks and other solutions that improve wireless coverage and capacity. Cellnex also operates infrastructure for digital broadcasting, public safety communications, smart-city services and Internet of Things applications.

Cellnex was established in 2015 after the telecommunications infrastructure business of Abertis was separated and listed on the Spanish stock market.