Cellnex Telecom (OTCMKTS:CLLNY) Sees Unusually-High Trading Volume – Still a Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) saw an uptick in trading volume on Tuesday . 537,748 shares were traded during trading, an increase of 147% from the previous session’s volume of 217,445 shares.The stock last traded at $16.3099 and had previously closed at $16.28.

Analyst Ratings Changes

Separately, Citigroup reiterated a “buy” rating on shares of Cellnex Telecom in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The stock’s fifty day moving average is $16.65 and its two-hundred day moving average is $16.21.

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.