Redeia Corporacion (OTCMKTS:RDEIY) Downgraded to Hold Rating by Sanford C. Bernstein

Key Points

• Redeia Corporacion has been downgraded from a "strong-buy" to a "hold" rating by Sanford C. Bernstein, as noted in a research note released on Monday.
• Other brokerages, including Jefferies Financial Group and Kepler Capital Markets, have also downgraded the company to a "hold" rating, indicating a negative sentiment among analysts.
• The stock is currently priced at $9.53, with a 50-day moving average of $9.71, reflecting a cautious outlook following these downgrades.

Redeia Corporacion (OTCMKTS:RDEIY - Get Free Report) was downgraded by equities researchers at Sanford C. Bernstein from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on RDEIY. Jefferies Financial Group cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Kepler Capital Markets lowered Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Finally, Citigroup upgraded Redeia Corporacion to a "strong-buy" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold".

Redeia Corporacion Price Performance

RDEIY opened at $9.53 on Monday. The firm has a 50 day moving average price of $9.71 and a 200 day moving average price of $10.07. Redeia Corporacion has a 1 year low of $8.03 and a 1 year high of $11.50.

Redeia Corporacion Company Profile

Redeia Corporación, SA engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally. The company operates through three segments: Management and Operation of National Electricity Infrastructure; Management and Operation of International Electricity Infrastructure; and Telecommunications (Satellites and Fibre Optic).

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