Cellnex Telecom (OTCMKTS:CLLNY) Stock Falls 2.2% – Time to Sell?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s share price fell 2.2% during trading on Wednesday. The company traded as low as $14.0850 and last traded at $14.13. 100,233 shares were traded during trading, a decline of 39% from the average session volume of 164,821 shares. The stock had previously closed at $14.45.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CLLNY shares. Barclays upgraded shares of Cellnex Telecom to an “overweight” rating in a research note on Monday, August 24th. UBS Group lowered shares of Cellnex Telecom to a “neutral” rating in a research note on Tuesday, August 18th. Finally, The Goldman Sachs Group cut shares of Cellnex Telecom from a “hold” rating to a “sell” rating in a report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cellnex Telecom presently has a consensus rating of “Hold”.

Cellnex Telecom Stock Down 0.5%

The firm has a 50 day moving average price of $14.98 and a 200-day moving average price of $15.76.

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.