Redeia Corporacion (OTCMKTS:RDEIY) Stock Price Passes Below 50 Day Moving Average - Time to Sell?

Key Points

• Redeia Corporacion's stock price has fallen below its fifty-day moving average of $9.77, trading recently at $9.68 with a volume of 36,678 shares.
• Analyst ratings for the stock show a range of opinions, with one strong buy, two hold ratings, and one sell rating, resulting in a consensus rating of "Hold."
• The company recently increased its dividend to $0.2115 per share, significantly raising the dividend yield to 257.0%.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.77 and traded as low as $9.60. Redeia Corporacion shares last traded at $9.68, with a volume of 36,678 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on RDEIY. Citigroup raised Redeia Corporacion to a "strong-buy" rating in a research note on Wednesday, July 23rd. Kepler Capital Markets cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Redeia Corporacion Trading Down 0.9%

The business has a fifty day moving average price of $9.75 and a 200 day moving average price of $10.06.

Redeia Corporacion Increases Dividend

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