Redeia Corporacion (OTCMKTS:RDEIY) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Redeia Corporacion SA – Unsponsored ADR (OTCMKTS:RDEIY)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $10.14 and traded as low as $9.60. Redeia Corporacion shares last traded at $9.67, with a volume of 75,735 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDEIY. Kepler Capital Markets downgraded Redeia Corporacion from a “strong-buy” rating to a “hold” rating in a report on Friday, August 1st. BNP Paribas downgraded Redeia Corporacion from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Citigroup upgraded Redeia Corporacion to a “strong-buy” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Redeia Corporacion Trading Up 1.5%

The firm has a fifty day simple moving average of $10.14 and a 200-day simple moving average of $9.91.

Redeia Corporacion Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.2115 per share. The ex-dividend date was Monday, July 7th. This represents a yield of 257.0%. This is a boost from Redeia Corporacion’s previous dividend of $0.11.

Redeia Corporacion 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).