Edenred (OTCMKTS:EDNMY) Sees Strong Trading Volume – Time to Buy?

Shares of Edenred (OTCMKTS:EDNMY) saw an uptick in trading volume on Thursday. Approximately 84,757 shares were traded during mid-day trading, an increase of 353% from the previous session’s volume of 18,695 shares. The stock last traded at $15.07 and had previously closed at $15.63.

Analysts Set New Price Targets

EDNMY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Edenred in a research note on Monday, August 3rd. Morgan Stanley restated an “overweight” rating on shares of Edenred in a report on Monday, September 21st. Zacks Research raised shares of Edenred from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Jefferies Financial Group reissued a “hold” rating on shares of Edenred in a research report on Wednesday, June 10th. Finally, Citigroup restated a “neutral” rating on shares of Edenred in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Edenred has a consensus rating of “Moderate Buy”.

Edenred Trading Down 3.6%

The business has a fifty day moving average price of $16.52 and a 200-day moving average price of $13.76.

Edenred Company Profile

Edenred SE is a France-based provider of digital payment and transaction solutions for businesses, employees and public-sector organizations. The company connects employers, merchants and employees through platforms designed to manage benefits, payments and business expenses.

Its services include employee benefits such as meal and food vouchers, mobility and wellness benefits, corporate payment solutions, expense management tools, and fleet and mobility services. Edenred also provides solutions for fuel, tolls, vehicle maintenance, incentives and rewards, as well as selected public-sector programs.

The company traces its origins to the Ticket Restaurant meal-voucher business created in 1962.