Cellnex Telecom (OTCMKTS:CLLNY) Stock Price Down 2.2% – Here’s Why

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price fell 2.2% on Wednesday . The company traded as low as $14.0850 and last traded at $14.13. 100,233 shares changed hands during trading, a decline of 39% from the average session volume of 164,821 shares. The stock had previously closed at $14.45.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays upgraded Cellnex Telecom to an “overweight” rating in a report on Monday, August 24th. UBS Group downgraded Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group lowered Cellnex Telecom from a “hold” rating to a “sell” rating in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Cellnex Telecom Stock Performance

The business’s 50-day moving average price is $14.99 and its 200 day moving average price is $15.79.

About Cellnex Telecom

Cellnex Telecom is a European telecommunications infrastructure company that owns and operates wireless communications sites and related network assets. Its infrastructure supports mobile operators, broadcasters, public-sector organizations and other communications providers by enabling the transmission of voice, data and audiovisual services.

The company’s activities include the deployment, management and leasing of macro towers, small cells and distributed antenna systems. Cellnex also provides connectivity and infrastructure solutions for private networks, smart-city applications, public safety communications and the broadcasting of television and radio signals.

Cellnex was established in 2015 following the separation of Abertis’s telecommunications infrastructure business, although its operating activities have earlier roots.