Redeia Corporación (OTCMKTS:RDEIY) Stock Passes Below Fifty Day Moving Average – Here’s Why

Redeia Corporación, S.A. (OTCMKTS:RDEIY)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.92 and traded as low as $8.41. Redeia Corporación shares last traded at $8.45, with a volume of 129,217 shares trading hands.

Wall Street Analysts Forecast Growth

RDEIY has been the subject of several research analyst reports. Morgan Stanley downgraded shares of Redeia Corporación from an “equal weight” rating to an “underweight” rating in a research report on Thursday, December 5th. BNP Paribas upgraded Redeia Corporación from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd.

Redeia Corporación Stock Down 0.8 %

The business’s 50 day moving average price is $8.92 and its two-hundred day moving average price is $9.09.

Redeia Corporación Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Monday, January 6th will be given a $0.1053 dividend. The ex-dividend date of this dividend is Monday, January 6th.

Redeia Corporación 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).