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

Shares of Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw an uptick in trading volume on Tuesday . Approximately 4,195,534 shares traded hands during mid-day trading, an increase of 124% from the previous session’s volume of 1,872,306 shares.The stock last traded at $12.24 and had previously closed at $11.98.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADYEY. BMO Capital Markets restated an “outperform” rating on shares of Adyen in a report on Friday. BNP Paribas Exane downgraded Adyen to a “neutral” rating in a research note on Monday, June 1st. Loop Capital initiated coverage on shares of Adyen in a report on Wednesday, July 15th. They set a “hold” rating on the stock. Monness Crespi & Hardt reaffirmed a “buy” rating on shares of Adyen in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Adyen in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Adyen Trading Up 2.2%

The business’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $10.72.

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.