Redeia Corporacion (OTCMKTS:RDEIY) Sees Large Volume Increase – Here’s What Happened

Redeia Corporacion SA – Unsponsored ADR (OTCMKTS:RDEIY) saw strong trading volume on Wednesday . 143,537 shares were traded during trading, an increase of 75% from the previous session’s volume of 81,916 shares.The stock last traded at $9.1450 and had previously closed at $9.08.

Wall Street Analysts Forecast Growth

RDEIY has been the subject of several analyst reports. Barclays upgraded shares of Redeia Corporacion from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Sanford C. Bernstein raised Redeia Corporacion from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada lowered Redeia Corporacion from a “moderate buy” rating to a “hold” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Redeia Corporacion Stock Performance

The stock’s 50-day moving average price is $8.81 and its two-hundred day moving average price is $9.17.

About Redeia Corporacion

Redeia Corporación (OTCMKTS:RDEIY) is a Spain-based energy infrastructure group principally engaged in the transmission of electricity, provision of telecommunications services through an extensive fiber-optic network, and transportation and distribution of natural gas. In its electricity transmission business, Redeia operates and maintains high-voltage lines and substations under long-term concession agreements, ensuring the reliable flow of power across the Iberian Peninsula. Its telecommunications arm leverages that same network infrastructure to serve both internal grid-management needs and third-party clients, supporting data traffic and digital services.