Cellnex Telecom (OTCMKTS:CLLNY) Shares Climb 8.2% – Still a Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price traded up 8.2% during trading on Monday. The stock traded as high as $13.73 and last traded at $13.69. Approximately 3,992 shares were traded during trading, a decline of 98% from the average session volume of 237,577 shares. The stock had previously closed at $12.65.

Analyst Ratings Changes

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

Cellnex Telecom Stock Up 0.1%

The stock’s 50-day moving average price is $14.50 and its 200 day moving average price is $15.47.

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.