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 stock traded as high as $9.81 and last traded at $9.63, with a volume of 53902 shares traded. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BNP Paribas raised Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley downgraded Redeia Corporación from an “equal weight” rating to an “underweight” rating in a research note on Thursday, December 5th.

Redeia Corporación Stock Performance

The company’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $8.92.

About Redeia Corporación

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).