Cellnex Telecom (OTCMKTS:CLLNY) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $14.20 and traded as high as $14.34. Cellnex Telecom shares last traded at $14.30, with a volume of 429,344 shares traded.

Wall Street Analysts Forecast Growth

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

Cellnex Telecom Stock Up 1.3%

The company’s fifty day moving average price is $14.18 and its 200 day moving average price is $15.64.

About Cellnex Telecom

Cellnex Telecom is a European telecommunications infrastructure company that operates wireless communications sites and related networks. The company provides infrastructure used by mobile network operators, broadcasters, public authorities and other organizations to deliver connectivity and communications services.

Its portfolio includes macro towers, rooftop sites, distributed antenna systems, small-cell networks and fiber-connected infrastructure. Cellnex also manages broadcasting infrastructure and develops connectivity solutions for smart cities, private networks, public safety and the Internet of Things.

Headquartered in Barcelona, Cellnex was established in 2015 following the reorganization of Abertis’s telecommunications infrastructure business.