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

Edenred (OTCMKTS:EDNMY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.20, but opened at $11.48. Edenred shares last traded at $11.60, with a volume of 1,751 shares trading hands.

Analyst Upgrades and Downgrades

EDNMY has been the topic of several recent analyst reports. Zacks Research downgraded shares of Edenred from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Sanford C. Bernstein cut Edenred from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research report on Wednesday, October 22nd. Finally, Morgan Stanley restated an “overweight” rating on shares of Edenred in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Edenred has an average rating of “Hold”.

Edenred Trading Down 4.1%

The business has a 50-day moving average price of $12.88 and a 200-day moving average price of $14.36.

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.