Red Electrica Corporacion SA (OTC:RDEIY) was downgraded by equities researchers at Berenberg Bank from a “buy” rating to a “sell” rating in a report issued on Wednesday, StockTargetPrices.com reports.

A number of other analysts also recently commented on the company. Societe Generale downgraded Red Electrica Corporacion SA from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Royal Bank Of Canada downgraded Red Electrica Corporacion SA from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, September 5th.

Shares of Red Electrica Corporacion SA (OTC:RDEIY) traded down 3.98% on Wednesday, reaching $10.61. The company’s stock had a trading volume of 46,740 shares. Red Electrica Corporacion SA has a 12-month low of $8.65 and a 12-month high of $11.57. The firm has a 50 day moving average price of $10.61 and a 200-day moving average price of $10.73. The stock has a market cap of $11.45 billion, a PE ratio of 14.63 and a beta of 0.63.

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