Zacks Investment Research lowered shares of Red Electrica Corporacion SA (OTCMKTS:RDEIY) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Red Electrica Corporacion, S.A. is primarily engaged in power transmission and operation of electrical systems in Spain. The Company performs its functions in coordination with the operators and clients of the Iberian power market to ensure continuity and security of power supply. Red Eléctrica also acts as the operator of the insular and extra peninsular power systems. The Company also provides consulting and advisory services and telecommunication services through its subsidiaries. Red Electrica Corporacion, S.A. is headquartered in Alcobendas, Spain. “

Separately, Royal Bank Of Canada restated a sector perform rating on shares of Red Electrica Corporacion SA in a research report on Tuesday, September 5th.

Red Electrica Corporacion SA (OTCMKTS:RDEIY) opened at 10.76 on Wednesday. The company’s 50 day moving average is $11.09 and its 200-day moving average is $10.45. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 15.22 and a beta of 0.67. Red Electrica Corporacion SA has a 1-year low of $8.65 and a 1-year high of $11.57.

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