Cellnex Telecom (OTCMKTS:CLLNY) Sees Large Volume Increase – Should You Buy?

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) saw unusually-strong trading volume on Friday . Approximately 183,224 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 154,511 shares.The stock last traded at $16.14 and had previously closed at $16.65.

Wall Street Analyst Weigh In

Separately, Citigroup reiterated a “buy” rating on shares of Cellnex Telecom in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Trading Down 3.3%

The firm’s 50-day moving average is $16.57 and its 200-day moving average is $16.09.

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.