Redeia Corporacion (OTCMKTS:RDEIY) Sees Large Volume Increase - Should You Buy?

Key Points

• Redeia Corporacion's shares experienced a dramatic 263% increase in trading volume, with approximately 200,618 shares traded on Monday compared to the previous session's 55,229 shares.
• Analysts' opinions are mixed, with one firm upgrading the stock to a strong-buy rating, while another downgraded it to a hold, leading to a consensus rating of "Hold".
• The company recently declared a dividend of $0.2115, representing a substantial increase from the previous dividend of $0.11, leading to a yield of 257.0%.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) shares saw strong trading volume on Monday . 200,618 shares traded hands during mid-day trading, an increase of 263% from the previous session's volume of 55,229 shares.The stock last traded at $9.63 and had previously closed at $9.52.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup upgraded Redeia Corporacion to a "strong-buy" rating in a research report on Wednesday, July 23rd. Kepler Capital Markets cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Redeia Corporacion Stock Performance

The firm's fifty day moving average is $9.74 and its 200 day moving average is $10.08.

Redeia Corporacion Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 8th were paid a dividend of $0.2115 per share. This represents a dividend yield of 257.0%. This is an increase from Redeia Corporacion's previous dividend of $0.11. The ex-dividend date was Monday, July 7th.

About Redeia Corporacion

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).