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

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) gapped up prior to trading on Friday. The stock had previously closed at $12.65, but opened at $13.26. Cellnex Telecom shares last traded at $13.2950, with a volume of 35,950 shares.

Analyst Ratings Changes

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

Cellnex Telecom Price Performance

The company’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $15.50.

Cellnex Telecom Company Profile

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.