Redeia Corporación (OTCMKTS:RDEIY) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Redeia Corporación, S.A. (OTCMKTS:RDEIY) crossed 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.

Analysts Set New Price Targets

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

Redeia Corporación Price Performance

The business has a fifty day simple moving average of $8.89 and a 200-day simple moving average of $9.08.

Redeia Corporación Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 22nd. Investors of record on Monday, January 6th will be issued a $0.1053 dividend. The ex-dividend date of this dividend is Monday, January 6th.

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).