Redeia Corporación (OTCMKTS:RDEIY) Sets New 12-Month High – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDEIY. Morgan Stanley cut shares of Redeia Corporación from an “equal weight” rating to an “underweight” rating in a research note on Thursday, December 5th. BNP Paribas upgraded Redeia Corporación from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd.

Redeia Corporación Stock Performance

The firm’s 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $8.92.

Redeia Corporación Company Profile

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).