Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – Time to Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

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

Cellnex Telecom Trading Up 5.8%

The company has a 50-day moving average of $15.34 and a 200 day moving average of $16.41.

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.