Redeia Corporación (OTCMKTS:RDEIY) Shares Pass Above 50 Day Moving Average – Here’s Why

Redeia Corporación, S.A. (OTCMKTS:RDEIY)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.65 and traded as high as $9.60. Redeia Corporación shares last traded at $9.58, with a volume of 15,022 shares changing hands.

Analysts Set New Price Targets

RDEIY has been the topic of a number of recent analyst reports. 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 upgraded shares of Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd.

Redeia Corporación Price Performance

The firm’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $8.91.

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).