Short Interest in Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY) Increases By 117.4%

Key Points

• Short interest in Redeia Corporacion SA increased by 117.4% in September, rising from 9,200 shares to 20,000 shares.
• A majority of analysts have downgraded their ratings for Redeia, with one holding a "Strong Buy," four issuing a "Hold," and two assigning a "Sell" rating.
• The stock price of Redeia Corporacion is currently trading at $9.79, having a 52-week low of $8.03 and a high of $11.50.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 20,000 shares, an increase of 117.4% from the September 15th total of 9,200 shares. Based on an average daily trading volume, of 220,000 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 220,000 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on RDEIY. Citigroup raised Redeia Corporacion to a "strong-buy" rating in a research report on Wednesday, July 23rd. Kepler Capital Markets downgraded Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Barclays downgraded Redeia Corporacion from a "strong-buy" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Jefferies Financial Group downgraded Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Finally, Sanford C. Bernstein cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

Redeia Corporacion Trading Down 0.2%

Redeia Corporacion stock traded down $0.02 during midday trading on Monday, reaching $9.79. The company's stock had a trading volume of 25,697 shares, compared to its average volume of 58,720. The stock's 50-day simple moving average is $9.59 and its 200-day simple moving average is $10.06. Redeia Corporacion has a 52-week low of $8.03 and a 52-week high of $11.50.

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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