Redeia Corporación (OTCMKTS:RDEIY) Stock Passes Below 200 Day Moving Average – Time to Sell?

Shares of Redeia Corporación, S.A. (OTCMKTS:RDEIY) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.94 and traded as low as $8.44. Redeia Corporación shares last traded at $8.44, with a volume of 72,143 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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 shares of Redeia Corporación from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd.

Redeia Corporación Stock Performance

The firm has a 50-day moving average of $8.51 and a 200 day moving average of $8.94.

Redeia Corporación Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Monday, January 6th were issued a dividend of $0.1053 per share. The ex-dividend date was 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).