Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY) Short Interest Update

Key Points

• Redeia Corporacion SA experienced a significant decrease in short interest, dropping by 94.2% from 37,900 shares to just 2,200 shares as of July 31st, indicating low market pessimism.
• The company has increased its dividend to $0.2115 per share, resulting in a notable yield of 257.0%, up from the prior dividend of $0.11.
• Analyst ratings have fluctuated, with Citigroup upgrading Redeia shares to a "strong-buy", while Kepler Capital Markets and BNP Paribas downgraded their ratings to a "hold."

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 2,200 shares, adecreaseof94.2% from the July 15th total of 37,900 shares. Currently,0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 97,800 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 97,800 shares, the short-interest ratio is currently 0.0 days. Currently,0.0% of the shares of the company are short sold.

Redeia Corporacion Stock Performance

Shares of RDEIY stock traded down $0.01 during trading hours on Tuesday, reaching $9.53. The company had a trading volume of 98,908 shares, compared to its average volume of 50,221. Redeia Corporacion has a 1-year low of $8.03 and a 1-year high of $11.50. The company has a 50 day moving average of $10.15 and a 200 day moving average of $9.92.

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. This represents a yield of 257.0%. The ex-dividend date of this dividend was Monday, July 7th. This is a boost from Redeia Corporacion's previous dividend of $0.11.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RDEIY. Citigroup upgraded shares of Redeia Corporacion to a "strong-buy" rating in a research note on Wednesday, July 23rd. BNP Paribas cut Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Kepler Capital Markets downgraded Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

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).