Redeia Corporación (OTCMKTS:RDEIY) Shares Pass Below Fifty Day Moving Average - Here's Why

Shares of Redeia Corporación, S.A. (OTCMKTS:RDEIY - Get Free Report) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley lowered Redeia Corporación from an "equal weight" rating to an "underweight" rating in a research report on Thursday, December 5th. BNP Paribas raised shares of Redeia Corporación from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd.

Redeia Corporación Stock Performance

The company's 50 day moving average is $8.91 and its 200 day moving average is $9.09.

Redeia Corporación Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 22nd. Investors of record on Monday, January 6th will be issued a dividend of $0.1053 per share. The ex-dividend date is Monday, January 6th.

Redeia Corporación 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).