Zacks Investment Research cut 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. “

RDEIY has been the subject of a number of other research reports. Societe Generale reaffirmed a sell rating on shares of Red Electrica Corporacion SA in a report on Thursday, September 14th. Royal Bank Of Canada reissued a sector perform rating on shares of Red Electrica Corporacion SA in a research note on Tuesday, September 5th.

Shares of Red Electrica Corporacion SA (OTCMKTS RDEIY) opened at 10.27 on Friday. The company has a 50-day moving average price of $10.95 and a 200-day moving average price of $10.58. Red Electrica Corporacion SA has a 12 month low of $8.65 and a 12 month high of $11.57. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 14.17 and a beta of 0.64.

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