Edenred (OTCMKTS:EDNMY) Trading Down 10% – What’s Next?

Edenred (OTCMKTS:EDNMY)’s share price was down 10% during mid-day trading on Tuesday . The company traded as low as $12.60 and last traded at $12.60. 986 shares traded hands during trading, a decline of 95% from the average daily volume of 18,617 shares. The stock had previously closed at $14.00.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of Edenred from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Edenred in a report on Wednesday, June 10th. Kepler Capital Markets upgraded shares of Edenred to a “strong-buy” rating in a research report on Sunday, March 15th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Edenred in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Edenred Price Performance

The business has a 50-day simple moving average of $12.57 and a 200 day simple moving average of $11.31.

Edenred Company Profile

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.