Zacks Investment Research downgraded shares of Red Electrica Corporacion SA (OTCMKTS:RDEIY) from a buy rating to a hold rating in a research note released on Saturday.

According to Zacks, “Red Electrica Corporacion, S.A. is primarily engaged in power transmission and operation of electrical systems in Spain. The Company performs its functions in coordination with the operators and clients of the Iberian power market to ensure continuity and security of power supply. Red El├ęctrica also acts as the operator of the insular and extra peninsular power systems. The Company also provides consulting and advisory services and telecommunication services through its subsidiaries. Red Electrica Corporacion, S.A. is headquartered in Alcobendas, Spain. “

Red Electrica Corporacion SA (OTCMKTS RDEIY) opened at 11.14 on Friday. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 15.76 and a beta of 0.67. Red Electrica Corporacion SA has a 52 week low of $8.65 and a 52 week high of $11.57. The company has a 50 day moving average price of $10.95 and a 200 day moving average price of $10.32.

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