Redeia Corporacion (OTCMKTS:RDEIY) Stock Price Passes Below 50 Day Moving Average - Here's Why

Key Points

• Redeia Corporacion's shares have fallen below their 50-day moving average of $10.14, trading at a low of $9.60 before closing at $9.67 with a volume of 75,735 shares.
• The company recently announced a dividend increase to $0.2115 per share, representing a significant yield of 257%, up from the previous dividend of $0.11.
• Analyst ratings for Redeia Corporacion are mixed, with one "Strong Buy," two "Hold," and one "Sell," resulting in a consensus rating of "Hold."

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report)'s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.14 and traded as low as $9.60. Redeia Corporacion shares last traded at $9.67, with a volume of 75,735 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup raised shares of Redeia Corporacion to a "strong-buy" rating in a report on Wednesday, July 23rd. Kepler Capital Markets lowered shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a report on Friday, August 1st. Finally, BNP Paribas lowered shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Redeia Corporacion Price Performance

The firm's 50 day moving average price is $10.08 and its 200-day moving average price is $9.96.

Redeia Corporacion Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Tuesday, July 8th were paid a $0.2115 dividend. This is a boost from Redeia Corporacion's previous dividend of $0.11. The ex-dividend date of this dividend was Monday, July 7th. This represents a dividend 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).