Redeia Corporacion (OTCMKTS:RDEIY) Sees Strong Trading Volume - Still a Buy?

Key Points

• Redeia Corporacion saw a significant increase in trading volume, with 119,036 shares traded on Tuesday, marking a 109% increase from the previous session.
• Wall Street analysts exhibit a mixed outlook, with one analyst rating it a strong buy, four giving it a hold rating, and one issuing a sell rating, resulting in a consensus rating of "Hold."
• The stock price experienced a slight decline, trading at $9.57, down from a previous close of $9.58, against a 50-day moving average of $9.67.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) shares saw an uptick in trading volume on Tuesday . 119,036 shares were traded during trading, an increase of 109% from the previous session's volume of 56,965 shares.The stock last traded at $9.57 and had previously closed at $9.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RDEIY. Kepler Capital Markets cut shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Sanford C. Bernstein cut shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 22nd. Citigroup raised shares of Redeia Corporacion to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group cut shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Redeia Corporacion has a consensus rating of "Hold".

Redeia Corporacion Stock Up 0.4%

The business has a 50 day moving average of $9.67 and a 200-day moving average of $10.08.

About Redeia Corporacion

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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