Adyen (OTCMKTS:ADYEY) Sees Unusually-High Trading Volume – Should You Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw an uptick in trading volume on Tuesday . 3,807,715 shares changed hands during mid-day trading, an increase of 189% from the previous session’s volume of 1,318,241 shares.The stock last traded at $11.26 and had previously closed at $10.72.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADYEY. Wells Fargo & Company initiated coverage on Adyen in a research report on Tuesday, October 21st. They set an “overweight” rating on the stock. KeyCorp upgraded shares of Adyen to a “strong-buy” rating in a research note on Friday, January 23rd. Wolfe Research upgraded shares of Adyen from a “hold” rating to an “outperform” rating in a research report on Thursday, January 8th. Morgan Stanley reissued an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Finally, Cantor Fitzgerald started coverage on shares of Adyen in a research note on Monday, January 26th. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Adyen Stock Performance

The stock’s 50-day moving average is $15.43 and its two-hundred day moving average is $16.09.

About Adyen

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.