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

Edenred (OTCMKTS:EDNMY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $15.10, but opened at $15.75. Edenred shares last traded at $15.80, with a volume of 453 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EDNMY. Jefferies Financial Group reiterated a “hold” rating on shares of Edenred in a research note on Wednesday, June 10th. Zacks Research raised Edenred from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Citigroup reiterated a “neutral” rating on shares of Edenred in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Edenred has an average rating of “Hold”.

Edenred Price Performance

The stock has a fifty day moving average price of $13.38 and a two-hundred day moving average price of $11.82.

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.