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

Edenred (OTCMKTS:EDNMY) shares gapped down before the market opened on Friday . The stock had previously closed at $9.80, but opened at $9.00. Edenred shares last traded at $8.95, with a volume of 2,270 shares traded.

Analyst Upgrades and Downgrades

EDNMY has been the topic of several research reports. UBS Group downgraded shares of Edenred from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Kepler Capital Markets upgraded shares of Edenred to a “strong-buy” rating in a research note on Sunday, March 15th. Finally, Zacks Research raised shares of Edenred from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Edenred currently has a consensus rating of “Moderate Buy”.

Edenred Stock Down 9.7%

The company has a fifty day simple moving average of $10.62 and a two-hundred day simple moving average of $11.38.

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.