Edenred (OTCMKTS:EDNMY) Shares Gap Down – Here’s Why

Shares of Edenred (OTCMKTS:EDNMY) gapped down prior to trading on Wednesday . The stock had previously closed at $11.00, but opened at $10.51. Edenred shares last traded at $10.51, with a volume of 1,331 shares traded.

Analyst Ratings Changes

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

Edenred Stock Performance

The company has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $14.17.

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.