Redeia Corporacion (OTCMKTS:RDEIY) Shares Pass Below 50 Day Moving Average - Should You Sell?

Key Points

• Redeia Corporacion's stock price has fallen below its 50-day moving average, trading as low as $9.35, while the 50-day moving average is at $10.21.
• Recent analyst ratings reflect mixed sentiments, with Citigroup upgrading to a "strong-buy" while Kepler Capital Markets and BNP Paribas both downgraded to "hold."
• The company declared a significant dividend increase from $0.11 to $0.2115 per share, resulting in a yield of 257.0%.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.21 and traded as low as $9.35. Redeia Corporacion shares last traded at $9.42, with a volume of 71,181 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BNP Paribas lowered shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Citigroup raised shares of Redeia Corporacion to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Kepler Capital Markets lowered shares of Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st.

Redeia Corporacion Stock Performance

The firm's 50 day moving average is $10.17 and its 200 day moving average is $9.89.

Redeia Corporacion Increases Dividend

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

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).