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

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $15.17, but opened at $16.04. Cellnex Telecom shares last traded at $15.9380, with a volume of 4,105 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on CLLNY. Citigroup reiterated a “buy” rating on shares of Cellnex Telecom in a research report on Thursday, February 12th. New Street Research upgraded shares of Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group downgraded shares of 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 given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Cellnex Telecom Trading Up 3.9%

The stock has a 50 day moving average of $16.55 and a 200-day moving average of $16.14.

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.