Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – What’s Next?

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) gapped up prior to trading on Thursday. The stock had previously closed at $13.67, but opened at $14.25. Cellnex Telecom shares last traded at $14.17, with a volume of 12,402 shares changing hands.

Analyst Upgrades and Downgrades

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

Cellnex Telecom Stock Performance

The stock’s 50 day simple moving average is $14.48 and its 200 day simple moving average is $15.46.

Cellnex Telecom Company Profile

Cellnex Telecom, SA is a Spanish independent telecommunications infrastructure company that owns and operates wireless communications assets. Its infrastructure supports mobile network operators, broadcasters, governments and other organizations that require reliable connectivity.

The company’s activities include managing telecommunications towers and rooftop sites, distributed antenna systems, small-cell networks and other solutions that improve wireless coverage and capacity. Cellnex also operates infrastructure for digital broadcasting, public safety communications, smart-city services and Internet of Things applications.

Cellnex was established in 2015 after the telecommunications infrastructure business of Abertis was separated and listed on the Spanish stock market.