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

Shares of Edenred (OTCMKTS:EDNMY) gapped down before the market opened on Wednesday . The stock had previously closed at $12.50, but opened at $11.98. Edenred shares last traded at $12.20, with a volume of 760 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Kepler Capital Markets upgraded Edenred to a “strong-buy” rating in a report on Sunday, March 15th. Zacks Research lowered Edenred from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 8th. UBS Group cut Edenred from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Citigroup restated a “neutral” rating on shares of Edenred in a research report on Friday, April 24th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Edenred in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Edenred currently has an average rating of “Hold”.

Edenred Price Performance

The stock has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $11.10.

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.