Red Eléctrica Corporación, S.A. (OTCMKTS:RDEIY – Get 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 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.
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