Cellnex Telecom (OTCMKTS:CLLNY) Stock Price Up 1.3% – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) rose 1.3% during trading on Thursday . The company traded as high as $16.7450 and last traded at $16.65. Approximately 189,459 shares traded hands during trading, an increase of 151% from the average daily volume of 75,600 shares. The stock had previously closed at $16.43.

Analyst Upgrades and Downgrades

Separately, Citigroup reaffirmed a “buy” rating on shares of Cellnex Telecom in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Cellnex Telecom Trading Down 3.5%

The stock’s 50 day moving average price is $16.54 and its 200 day moving average price is $16.09.

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.