Short Interest in Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY) Rises By 925.0%

Key Points

• Short interest in Redeia Corporacion SA surged by 925.0% in August, with total short interest rising to 8,200 shares from 800 shares.
• The company's stock price increased by 0.8% to $9.60, with a trading volume of 18,109 shares compared to an average of 54,312 shares.
• Redeia Corporacion recently increased its dividend to $0.2115 per share, representing a yield of 257.0%, up from the previous dividend of $0.11.

Redeia Corporacion SA - Unsponsored ADR (OTCMKTS:RDEIY - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 8,200 shares, an increase of 925.0% from the August 15th total of 800 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 136,700 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 136,700 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company's shares are sold short.

Redeia Corporacion Stock Up 0.8%

OTCMKTS:RDEIY traded up $0.08 on Thursday, reaching $9.60. 18,109 shares of the company's stock were exchanged, compared to its average volume of 54,312. Redeia Corporacion has a 52-week low of $8.03 and a 52-week high of $11.50. The business has a fifty day moving average of $9.85 and a 200-day moving average of $10.03.

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 given a dividend of $0.2115 per share. This represents a yield of 257.0%. This is a boost from Redeia Corporacion's previous dividend of $0.11. The ex-dividend date of this dividend was Monday, July 7th.

Wall Street Analysts Forecast Growth

RDEIY has been the subject of several analyst reports. Citigroup upgraded Redeia Corporacion to a "strong-buy" rating in a research report on Wednesday, July 23rd. Kepler Capital Markets lowered Redeia Corporacion from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. One equities 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. According to MarketBeat, the stock currently has an average rating of "Hold".

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).

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