Redeia Corporación (OTCMKTS:RDEIY) Stock Passes Below 200-Day Moving Average – Should You Sell?

Shares of Redeia Corporación, S.A. (OTCMKTS:RDEIY) crossed 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 trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDEIY. BNP Paribas upgraded Redeia Corporación from a “hold” rating to a “strong-buy” rating in a report 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 Price Performance

The business’s fifty day moving average is $8.71 and its two-hundred day moving average is $9.02.

Redeia Corporación Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Monday, January 6th will be paid a $0.1053 dividend. The ex-dividend date is Monday, January 6th.

About Redeia Corporación

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).