Cellnex Telecom (OTCMKTS:CLLNY) Stock Price Breaks Above 50 Day Moving Average – What’s Next?

Cellnex Telecom SA – Unsponsored ADR (OTCMKTS:CLLNY)’s stock price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $14.20 and traded as high as $14.34. Cellnex Telecom shares last traded at $14.30, with a volume of 429,344 shares.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group downgraded Cellnex Telecom from a “hold” rating to a “sell” rating in a report on Friday, September 4th. UBS Group lowered Cellnex Telecom to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Barclays upgraded Cellnex Telecom to an “overweight” rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cellnex Telecom currently has a consensus rating of “Hold”.

Cellnex Telecom Trading Up 3.0%

The business has a fifty day moving average of $14.20 and a 200-day moving average of $15.65.

Cellnex Telecom Company Profile

Cellnex Telecom is a European telecommunications infrastructure company that operates wireless communications sites and related networks. The company provides infrastructure used by mobile network operators, broadcasters, public authorities and other organizations to deliver connectivity and communications services.

Its portfolio includes macro towers, rooftop sites, distributed antenna systems, small-cell networks and fiber-connected infrastructure. Cellnex also manages broadcasting infrastructure and develops connectivity solutions for smart cities, private networks, public safety and the Internet of Things.

Headquartered in Barcelona, Cellnex was established in 2015 following the reorganization of Abertis’s telecommunications infrastructure business.