Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Up – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.17, but opened at $16.04. Cellnex Telecom shares last traded at $15.9380, with a volume of 4,105 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CLLNY shares. The Goldman Sachs Group cut shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. New Street Research upgraded Cellnex Telecom to a “buy” rating in a research report on Wednesday, December 17th. Finally, Citigroup restated a “buy” rating on shares of Cellnex Telecom in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Up 3.9%

The business’s fifty day moving average price is $16.55 and its two-hundred day moving average price is $16.14.

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.