Adyen (OTCMKTS:ADYEY) Sees Strong Trading Volume – Here’s Why

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) shares saw unusually-high trading volume on Tuesday . Approximately 6,497,583 shares traded hands during trading, an increase of 244% from the previous session’s volume of 1,886,874 shares.The stock last traded at $9.34 and had previously closed at $9.44.

Wall Street Analysts Forecast Growth

ADYEY has been the subject of several analyst reports. BNP Paribas Exane cut shares of Adyen to a “neutral” rating in a research report on Monday, June 1st. BMO Capital Markets initiated coverage on shares of Adyen in a report on Tuesday, April 21st. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adyen in a research note on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Adyen in a report on Monday, May 4th. Finally, Monness Crespi & Hardt reiterated a “buy” rating on shares of Adyen in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy”.

Adyen Stock Down 1.1%

The company’s 50 day simple moving average is $10.14 and its 200 day simple moving average is $11.80.

Adyen Company Profile

Adyen is a global payments technology company that provides an end-to-end platform for accepting and processing electronic payments across online, mobile and point-of-sale channels. Its core services include payment gateway and acquiring capabilities, fraud prevention and risk management, settlement and reconciliation, and tools for recurring and marketplace payments. The platform is designed to consolidate multiple payment functions into a single integration, enabling merchants to accept a wide range of local and international payment methods and currencies.

Founded in 2006 and headquartered in Amsterdam, Adyen was established by Pieter van der Does and Arnout Schuijff to simplify cross-border payments for international merchants.