Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIY) Short Interest Update

Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIYGet Rating) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 17,100 shares, an increase of 92.1% from the March 31st total of 8,900 shares. Based on an average daily volume of 49,300 shares, the short-interest ratio is presently 0.3 days.

A number of research analysts recently weighed in on the company. Societe Generale raised Red Eléctrica Corporación from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. UBS Group upgraded Red Eléctrica Corporación from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 16th. Morgan Stanley upgraded Red Eléctrica Corporación from an “underweight” rating to an “equal weight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on Red Eléctrica Corporación from €20.00 ($21.51) to €20.50 ($22.04) and gave the stock an “outperform” rating in a research report on Friday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Red Eléctrica Corporación has a consensus rating of “Hold” and an average target price of $18.25.

Shares of Red Eléctrica Corporación stock traded up $0.05 during trading hours on Friday, hitting $10.15. The company’s stock had a trading volume of 29,700 shares, compared to its average volume of 74,694. Red Eléctrica Corporación has a 1-year low of $9.03 and a 1-year high of $10.82. The business has a fifty day moving average of $9.88 and a 200 day moving average of $10.12.

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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