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

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.01, but opened at $15.60. Cellnex Telecom shares last traded at $15.6565, with a volume of 1,264 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLLNY. Citigroup raised Cellnex Telecom from a “hold” rating to a “buy” rating in a research note on Friday, September 19th. Barclays raised Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. The Goldman Sachs Group downgraded shares of Cellnex Telecom to a “neutral” rating in a report on Friday. Finally, New Street Research raised shares of Cellnex Telecom to a “buy” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The company has a fifty day simple moving average of $15.25 and a 200-day simple moving average of $16.94.

About Cellnex Telecom

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.