Cellnex Telecom (OTCMKTS:CLLNY) Shares Gap Down – Here’s What Happened

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price 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 traded.

Analyst Ratings Changes

CLLNY has been the subject of several analyst reports. Barclays upgraded Cellnex Telecom to an “overweight” rating in a research note on Monday, August 24th. UBS Group cut shares of Cellnex Telecom to a “neutral” rating in a research note on Tuesday, August 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Cellnex Telecom Stock Performance

The company has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $16.13.

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.