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

Shares of Edenred (OTCMKTS:EDNMY) gapped down prior to trading on Monday . The stock had previously closed at $14.00, but opened at $13.25. Edenred shares last traded at $13.25, with a volume of 620 shares traded.

Wall Street Analyst Weigh In

EDNMY has been the topic of several recent research reports. Kepler Capital Markets upgraded shares of Edenred to a “strong-buy” rating in a research report on Sunday, March 15th. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research note on Friday, April 24th. Jefferies Financial Group reiterated a “hold” rating on shares of Edenred in a research report on Wednesday, June 10th. Finally, Zacks Research raised shares of Edenred from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Edenred Stock Performance

The company has a 50-day simple moving average of $12.54 and a 200-day simple moving average of $11.30.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.