Redeia Corporación (OTCMKTS:RDEIY) Reaches New 52-Week High – Here’s Why

Redeia Corporación, S.A. (OTCMKTS:RDEIY) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $9.81 and last traded at $9.63, with a volume of 53902 shares trading hands. The stock had previously closed at $9.57.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BNP Paribas raised shares of Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley downgraded shares of Redeia Corporación from an “equal weight” rating to an “underweight” rating in a report on Thursday, December 5th.

Redeia Corporación Price Performance

The firm’s fifty day moving average is $8.72 and its two-hundred day moving average is $8.92.

About Redeia Corporación

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).