Cellnex Telecom (OTCMKTS:CLLNY) Stock Price Down 6.3% – Time to Sell?

Shares of Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) fell 6.3% during trading on Friday . The company traded as low as $14.7424 and last traded at $14.7424. 57,631 shares were traded during trading, a decline of 70% from the average session volume of 190,436 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLLNY. Citigroup reaffirmed a “buy” rating on shares of Cellnex Telecom in a research report on Thursday, February 12th. The Goldman Sachs Group cut shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a report on Friday, January 9th. Barclays upgraded Cellnex Telecom to a “hold” rating in a research note on Friday, November 28th. Finally, New Street Research raised Cellnex Telecom to a “buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Cellnex Telecom Trading Down 6.7%

The company has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $16.28.

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.