Short Interest in Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIY) Rises By 1,383.3%

Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIYGet Rating) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 8,900 shares, a growth of 1,383.3% from the March 15th total of 600 shares. Based on an average daily trading volume, of 73,900 shares, the days-to-cover ratio is presently 0.1 days.

RDEIY has been the subject of several research analyst reports. Societe Generale upgraded shares of Red Eléctrica Corporación from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. Morgan Stanley lifted their target price on Red Eléctrica Corporación from €15.00 ($16.30) to €16.00 ($17.39) in a research report on Wednesday, April 6th. UBS Group upgraded shares of Red Eléctrica Corporación from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 16th. Finally, Royal Bank of Canada increased their price objective on shares of Red Eléctrica Corporación from €20.00 ($21.74) to €20.50 ($22.28) and gave the company an “outperform” rating in a research note on Friday, March 18th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Red Eléctrica Corporación has a consensus rating of “Hold” and an average price target of $18.25.

Red Eléctrica Corporación stock opened at $10.37 on Thursday. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $10.12. Red Eléctrica Corporación has a 12 month low of $8.81 and a 12 month high of $10.82.

Red Eléctrica Corporación Company Profile (Get Rating)

Red Eléctrica Corporación, SA engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally. Its transmission network comprises approximately 44,687 kilometers; and has 93,871 MVA of transformation capacity.

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