Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $18.34, but opened at $19.11. Cellnex Telecom shares last traded at $18.9650, with a volume of 25,468 shares traded.

Analyst Upgrades and Downgrades

CLLNY has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating on shares of Cellnex Telecom in a research note on Thursday, February 12th. The Goldman Sachs Group lowered Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Barclays upgraded Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. Finally, New Street Research upgraded Cellnex Telecom to a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The company has a 50 day simple moving average of $16.22 and a 200-day simple moving average of $16.33.

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.