Cellnex Telecom (OTCMKTS:CLLNY) Sees Unusually-High Trading Volume – Time to Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) saw unusually-strong trading volume on Wednesday . Approximately 407,359 shares changed hands during trading, an increase of 140% from the previous session’s volume of 169,562 shares.The stock last traded at $18.23 and had previously closed at $18.10.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CLLNY shares. The Goldman Sachs Group downgraded shares of Cellnex Telecom from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 9th. Citigroup reiterated a “buy” rating on shares of Cellnex Telecom in a report on Thursday, February 12th. Barclays upgraded Cellnex Telecom to a “hold” rating in a research 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 research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cellnex Telecom Stock Up 0.9%

The stock has a 50 day moving average price of $16.10 and a two-hundred day moving average price of $16.31.

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.