Cellnex Telecom (OTCMKTS:CLLNY) Shares Down 1.4% – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s stock price was down 1.4% during mid-day trading on Friday . The company traded as low as $15.30 and last traded at $15.38. Approximately 82,549 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 158,458 shares. The stock had previously closed at $15.60.

Analysts Set New Price Targets

A number of brokerages have weighed in on CLLNY. New Street Research upgraded Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. The Goldman Sachs Group downgraded shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Finally, Barclays raised shares of Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cellnex Telecom currently has an average rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The stock’s fifty day moving average is $15.31 and its 200-day moving average is $16.48.

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.