Redeia Corporacion (OTCMKTS:RDEIY) Share Price Passes Below 50 Day Moving Average – What’s Next?

Shares of Redeia Corporacion SA – Unsponsored ADR (OTCMKTS:RDEIY) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.58 and traded as low as $8.8310. Redeia Corporacion shares last traded at $8.86, with a volume of 105,611 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RDEIY shares. Kepler Capital Markets lowered Redeia Corporacion from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Sanford C. Bernstein lowered Redeia Corporacion from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Jefferies Financial Group lowered Redeia Corporacion from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Citigroup raised Redeia Corporacion to a “strong-buy” rating in a research note on Wednesday, July 23rd. Finally, Barclays lowered Redeia Corporacion from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Redeia Corporacion has an average rating of “Hold”.

Redeia Corporacion Trading Down 1.0%

The firm has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $9.99.

About Redeia Corporacion

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).