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

Redeia Corporación, S.A. (OTCMKTS:RDEIY)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.98 and traded as low as $8.27. Redeia Corporación shares last traded at $8.28, with a volume of 31,227 shares trading hands.

Analyst Ratings Changes

RDEIY has been the subject of several recent analyst reports. BNP Paribas raised Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley cut shares of 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 $8.61 and a 200 day simple moving average of $8.98.

Redeia Corporación Cuts Dividend

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