Short Interest in RED ELECTRICA C/ADR (OTCMKTS:RDEIY) Decreases By 37.3%

RED ELECTRICA C/ADR (OTCMKTS:RDEIY) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 45,200 shares, a decline of 37.3% from the August 15th total of 72,100 shares. Based on an average trading volume of 67,800 shares, the days-to-cover ratio is presently 0.7 days.

Shares of RED ELECTRICA C/ADR stock traded up $0.07 during trading on Wednesday, hitting $9.65. The stock had a trading volume of 310,301 shares, compared to its average volume of 109,062. The business’s 50-day moving average is $9.61 and its 200 day moving average is $9.10. RED ELECTRICA C/ADR has a 12 month low of $7.18 and a 12 month high of $10.57.

A number of brokerages have issued reports on RDEIY. Morgan Stanley began coverage on shares of RED ELECTRICA C/ADR in a report on Tuesday. They set an “underweight” rating on the stock. ValuEngine cut shares of RED ELECTRICA C/ADR from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of RED ELECTRICA C/ADR in a report on Tuesday, July 7th. Finally, Deutsche Bank reissued a “hold” rating on shares of RED ELECTRICA C/ADR in a report on Friday, July 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. RED ELECTRICA C/ADR presently has an average rating of “Hold”.

RED ELECTRICA C/ADR Company Profile

Red El├ęctrica Corporaci├│n, SA transmits electricity; operates and manages transmission network for the electricity system; and manages electricity transmission grid in Spain and internationally. Its transmission network comprises approximately 43,800 kilometers; and has 86,654 MVA of transformer capacity.

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