Redeia Corporación (OTCMKTS:RDEIY) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Redeia Corporación, S.A. (OTCMKTS:RDEIY) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.02 and traded as low as $8.30. Redeia Corporación shares last traded at $8.42, with a volume of 107,030 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RDEIY shares. BNP Paribas upgraded Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley lowered Redeia Corporación from an “equal weight” rating to an “underweight” rating in a research note on Thursday, December 5th.

Redeia Corporación Stock Performance

The stock has a 50-day simple moving average of $8.71 and a 200-day simple moving average of $9.02.

Redeia Corporación Cuts Dividend

The firm also recently declared 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 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).