Cellnex Telecom (OTCMKTS:CLLNY) Trading Down 1.4% – Time to Sell?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) fell 1.4% on Friday . The stock traded as low as $15.30 and last traded at $15.38. 82,549 shares changed hands during trading, a decline of 48% from the average session volume of 158,458 shares. The stock had previously closed at $15.60.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group cut Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. Barclays upgraded shares of Cellnex Telecom to a “hold” rating in a report on Friday, November 28th. Finally, New Street Research raised Cellnex Telecom to a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The firm’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $16.50.

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.