Redeia Corporación (OTCMKTS:RDEIY) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Redeia Corporación, S.A. (OTCMKTS:RDEIY)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.50 and traded as high as $9.10. Redeia Corporación shares last traded at $9.06, with a volume of 22,923 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on RDEIY. BNP Paribas upgraded shares of Redeia Corporación from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley lowered 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’s 50 day simple moving average is $8.52 and its 200 day simple moving average is $8.91.

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 paid a dividend of $0.1053 per share. The ex-dividend date of this dividend 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).