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

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped down prior to trading on Tuesday. The stock had previously closed at $13.64, but opened at $12.88. Cellnex Telecom shares last traded at $12.89, with a volume of 3,489 shares trading hands.

Wall Street Analyst Weigh In

CLLNY has been the subject of several analyst reports. UBS Group lowered shares of Cellnex Telecom to a “neutral” rating in a report on Tuesday, August 18th. Barclays upgraded shares of Cellnex Telecom to an “overweight” rating in a report on Monday, August 24th. Finally, The Goldman Sachs Group lowered shares of Cellnex Telecom from a “hold” rating to a “sell” rating in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Cellnex Telecom Price Performance

The business has a 50 day simple moving average of $14.96 and a two-hundred day simple moving average of $15.71.

Cellnex Telecom Company Profile

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.