Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Down – Should You Sell?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $15.32, but opened at $14.71. Cellnex Telecom shares last traded at $14.68, with a volume of 400 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLLNY. UBS Group lowered shares of Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Barclays raised shares of Cellnex Telecom to an “overweight” rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cellnex Telecom presently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The firm has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $16.17.

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.