Edenred (OTCMKTS:EDNMY) Trading Down 7.4% – Here’s Why

Edenred (OTCMKTS:EDNMY)’s stock price fell 7.4% on Thursday . The company traded as low as $11.30 and last traded at $11.30. 1,578 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 12,629 shares. The stock had previously closed at $12.20.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research report on Wednesday, October 22nd. Zacks Research downgraded Edenred from a “hold” rating to a “strong sell” rating in a report on Monday, October 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Edenred in a research report on Wednesday, September 3rd. Finally, Sanford C. Bernstein downgraded shares of Edenred from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Edenred Trading Down 2.2%

The business has a fifty day moving average price of $12.74 and a 200 day moving average price of $14.29.

About Edenred

Edenred SE provides digital platform for services and payments for companies, employees, and merchants worldwide. It offers employee benefit solutions, including Ticket Restaurant, a solution that allows employees to take time out for lunch at a partner merchant; Ticket Alimentación that allows users to pay for groceries in neighborhood stores and supermarkets; Ticket Regalo, a gift voucher; Ticket CESU, a human services solution; Ticket Plus Card, a solution that enables the purchase of staples, such as food and fuel; Ticket Welfare, which employees can use to pay for a range of services, such as access to sports facilities and solutions for their children’s educational needs; Ticket Guardería for companies without on-site daycare facilities; Childcare Vouchers; Ticket EcoCheque, a solutions that encourages purchase of environmentally friendly products; Ticket Kadeos Culture and Ticket Cultura that are solutions for cultural goods and services.