Redeia Corporacion (OTCMKTS:RDEIY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Redeia Corporacion saw a significant increase in trading volume, with approximately 49,522 shares changing hands despite an 8% decrease from the previous trading session.
• Recent analyst ratings indicate a mixed outlook for Redeia, with one analyst rating it a Strong Buy, two rating it a Hold, and one giving it a Sell rating.
• The company recently increased its dividend from $0.11 to $0.2115, giving shareholders a yield of 257.0% on the payment made on July 23rd.

Shares of Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) saw strong trading volume on Wednesday . 49,522 shares changed hands during mid-day trading, a decline of 8% from the previous session's volume of 53,953 shares.The stock last traded at $9.57 and had previously closed at $9.44.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RDEIY shares. Citigroup raised shares of Redeia Corporacion to a "strong-buy" rating in a research note on Wednesday, July 23rd. Kepler Capital Markets cut shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Redeia Corporacion Price Performance

The firm's 50-day simple moving average is $9.92 and its 200-day simple moving average is $10.03.

Redeia Corporacion Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 8th were issued a $0.2115 dividend. The ex-dividend date was Monday, July 7th. This represents a dividend yield of 257.0%. This is an increase 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).