Cellnex Telecom (OTCMKTS:CLLNY) Trading Down 2.2% – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares traded down 2.2% during trading on Wednesday . The stock traded as low as $14.0850 and last traded at $14.13. Approximately 100,233 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 164,821 shares. The stock had previously closed at $14.45.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CLLNY. Barclays upgraded shares of Cellnex Telecom to an “overweight” rating in a report on Monday, August 24th. UBS Group downgraded shares of Cellnex Telecom to a “neutral” rating in a report on Tuesday, August 18th. Finally, The Goldman Sachs Group lowered shares of Cellnex Telecom from a “hold” rating to a “sell” rating in a research report on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Cellnex Telecom Trading Down 2.2%

The stock’s 50-day moving average is $14.99 and its 200-day moving average is $15.79.

About Cellnex Telecom

Cellnex Telecom is a European telecommunications infrastructure company that owns and operates wireless communications sites and related network assets. Its infrastructure supports mobile operators, broadcasters, public-sector organizations and other communications providers by enabling the transmission of voice, data and audiovisual services.

The company’s activities include the deployment, management and leasing of macro towers, small cells and distributed antenna systems. Cellnex also provides connectivity and infrastructure solutions for private networks, smart-city applications, public safety communications and the broadcasting of television and radio signals.

Cellnex was established in 2015 following the separation of Abertis’s telecommunications infrastructure business, although its operating activities have earlier roots.