Cellnex Telecom (OTCMKTS:CLLNY) Sets New 12-Month Low – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s stock price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $13.63 and last traded at $13.63, with a volume of 45977 shares trading hands. The stock had previously closed at $13.74.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CLLNY shares. The Goldman Sachs Group downgraded shares of Cellnex Telecom from a “hold” rating to a “sell” rating in a report on Friday, September 4th. UBS Group lowered Cellnex Telecom to a “neutral” rating in a report on Tuesday, August 18th. Finally, Barclays upgraded shares of Cellnex Telecom to an “overweight” rating in a research report on Monday, August 24th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Cellnex Telecom Price Performance

The business has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $15.76.

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.