Redeia Corporación (OTCMKTS:RDEIY) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Redeia Corporación, S.A. (OTCMKTS:RDEIY) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.92 and traded as low as $8.41. Redeia Corporación shares last traded at $8.45, with a volume of 129,217 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on RDEIY. Morgan Stanley downgraded shares of Redeia Corporación from an “equal weight” rating to an “underweight” rating in a research report on Thursday, December 5th. BNP Paribas raised Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd.

Redeia Corporación Stock Up 0.8 %

The company’s fifty day moving average price is $8.89 and its 200 day moving average price is $9.08.

Redeia Corporación Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Monday, January 6th will be given a dividend of $0.1053 per share. The ex-dividend date of this dividend is Monday, January 6th.

About Redeia Corporación

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).