Redeia Corporacion (OTCMKTS:RDEIY) Share Price Crosses Below 50 Day Moving Average - What's Next?

Key Points

• The share price of Redeia Corporacion (OTCMKTS:RDEIY) has fallen below its 50-day moving average of $10.31, trading at $9.56 with a volume of 61,166 shares.
• Equities research analysts have mixed ratings on Redeia, with Citigroup upgrading it to "strong-buy" while BNP Paribas downgraded it to "hold."
• The company recently announced a substantial increase in its dividend, now at $0.2115 per share, which represents a dividend yield of 257.0%, up from the previous $0.11.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.31 and traded as low as $9.46. Redeia Corporacion shares last traded at $9.56, with a volume of 61,166 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of Redeia Corporacion to a "strong-buy" rating in a research report on Wednesday, July 23rd. BNP Paribas downgraded shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th.

Redeia Corporacion Stock Performance

The business's 50-day moving average price is $10.31 and its 200-day moving average price is $9.83.

Redeia Corporacion Increases Dividend

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

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).

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