Cellnex Telecom (OTCMKTS:CLLNY) Reaches New 1-Year Low – Should You Sell?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares hit a new 52-week low during trading on Thursday. The company traded as low as $12.63 and last traded at $12.66, with a volume of 133089 shares trading hands. The stock had previously closed at $12.82.

Analyst Upgrades and Downgrades

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

Cellnex Telecom Stock Performance

The business’s fifty day moving average price is $14.82 and its two-hundred day moving average price is $15.61.

About Cellnex Telecom

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.