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

Shares of Edenred (OTCMKTS:EDNMY) gapped down prior to trading on Friday . The stock had previously closed at $11.10, but opened at $10.30. Edenred shares last traded at $10.30, with a volume of 199 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research lowered shares of Edenred from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of Edenred in a report on Wednesday, October 22nd. Finally, UBS Group cut Edenred to a “neutral” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Edenred presently has an average rating of “Hold”.

Edenred Price Performance

The firm has a 50-day moving average price of $10.79 and a 200-day moving average price of $12.77.

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.