Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIY – Get 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 ElÃ©ctrica CorporaciÃ³n, 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.
- Get a free copy of the StockNews.com research report on Red Eléctrica Corporación (RDEIY)
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