Cellnex Telecom (OTCMKTS:CLLNY) Stock Price Down 3.9% – Here’s Why

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s stock price fell 3.9% on Tuesday . The stock traded as low as $14.71 and last traded at $14.73. 89,322 shares were traded during trading, a decline of 23% from the average daily volume of 115,387 shares. The stock had previously closed at $15.32.

Analysts Set New Price Targets

A number of analysts recently issued reports on CLLNY shares. UBS Group downgraded Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Barclays upgraded shares of Cellnex Telecom to an “overweight” rating in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The company’s 50 day simple moving average is $15.06 and its 200-day simple moving average is $16.17.

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.