Redeia Corporacion (OTCMKTS:RDEIY) Sees Large Volume Increase - 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 unusually-strong trading volume on Wednesday . Approximately 49,522 shares traded 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 analysts have recently issued reports on the company. Kepler Capital Markets cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Citigroup raised Redeia Corporacion to a "strong-buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Redeia Corporacion Stock Performance

The company's 50 day simple moving average is $9.92 and its two-hundred day simple moving average is $10.02.

Redeia Corporacion Increases Dividend

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

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).