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

Edenred (OTCMKTS:EDNMY) shares gapped up before the market opened 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 traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EDNMY. Jefferies Financial Group reiterated a “hold” rating on shares of Edenred in a research note on Wednesday, June 10th. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a report on Friday, April 24th. Finally, Zacks Research downgraded Edenred from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Edenred currently has a consensus rating of “Hold”.

Edenred Price Performance

The firm’s 50 day moving average is $13.53 and its 200-day moving average is $11.89.

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.