Edenred (OTCMKTS:EDNMY) Shares Gap Down – Should You Sell?

Edenred (OTCMKTS:EDNMY) gapped down before the market opened on Wednesday. The stock had previously closed at $16.75, but opened at $14.90. Edenred shares last traded at $14.90, with a volume of 351 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on EDNMY. Zacks Research upgraded Edenred from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Edenred in a report on Monday, August 3rd. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research report on Thursday, July 30th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Edenred in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Edenred Price Performance

The company has a 50 day moving average price of $16.49 and a 200 day moving average price of $14.35.

Edenred Company Profile

Edenred SE is a France-based provider of digital payment and service solutions for employers, employees, merchants and public institutions. The company operates platforms that connect organizations with beneficiaries and affiliated merchants, helping manage employee benefits, business expenses, mobility programs and social assistance.

Its products and services include meal and food vouchers, employee engagement and incentive solutions, corporate payment cards, expense-management tools, fleet and fuel payments, toll services, and mobility-related benefits.