Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) Sees Significant Drop in Short Interest

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 8,380 shares, a drop of 83.8% from the August 31st total of 51,613 shares. Based on an average daily trading volume, of 419,738 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

CLLNY has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded shares of Cellnex Telecom from a “hold” rating to a “sell” rating in a report on Friday, September 4th. UBS Group downgraded Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Barclays raised Cellnex Telecom to an “overweight” rating in a research note on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Cellnex Telecom Price Performance

CLLNY traded down $0.10 during trading hours on Friday, reaching $13.64. 121,625 shares of the company’s stock traded hands, compared to its average volume of 176,290. The firm has a 50-day moving average price of $14.97 and a 200 day moving average price of $15.75. Cellnex Telecom has a 52-week low of $13.61 and a 52-week high of $19.23.

Cellnex Telecom Company Profile

Cellnex Telecom is a European telecommunications infrastructure company that owns and operates wireless communications sites and related network assets. Its infrastructure supports mobile operators, broadcasters, public-sector organizations and other communications providers by enabling the transmission of voice, data and audiovisual services.

The company’s activities include the deployment, management and leasing of macro towers, small cells and distributed antenna systems. Cellnex also provides connectivity and infrastructure solutions for private networks, smart-city applications, public safety communications and the broadcasting of television and radio signals.

Cellnex was established in 2015 following the separation of Abertis’s telecommunications infrastructure business, although its operating activities have earlier roots.