Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – Should You Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) gapped up prior to trading on Wednesday . The stock had previously closed at $15.40, but opened at $16.41. Cellnex Telecom shares last traded at $16.39, with a volume of 46,937 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. New Street Research raised Cellnex Telecom to a “buy” rating in a research report on Wednesday, December 17th. Finally, Barclays upgraded 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 given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Down 0.8%

The company has a 50 day moving average of $15.42 and a 200 day moving average of $16.39.

Cellnex Telecom Company Profile

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.