Cellnex Telecom (OTCMKTS:CLLNY) Sees Strong Trading Volume – Still a Buy?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY) saw strong trading volume on Tuesday . 537,748 shares traded hands during mid-day trading, an increase of 147% from the previous session’s volume of 217,445 shares.The stock last traded at $16.3099 and had previously closed at $16.28.

Wall Street Analyst Weigh In

Separately, Citigroup reaffirmed a “buy” rating on shares of Cellnex Telecom in a report on Thursday, February 12th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Cellnex Telecom Price Performance

The firm’s 50 day simple moving average is $16.65 and its two-hundred day simple moving average is $16.21.

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.