Edenred (OTCMKTS:EDNMY) Stock Price Down 10% – What’s Next?

Edenred (OTCMKTS:EDNMY) shares dropped 10% during mid-day trading on Tuesday . The stock traded as low as $12.60 and last traded at $12.60. Approximately 986 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 18,617 shares. The stock had previously closed at $14.00.

Wall Street Analyst Weigh In

EDNMY has been the subject of several recent analyst reports. Zacks Research raised shares of Edenred from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Kepler Capital Markets raised shares of Edenred to a “strong-buy” rating in a research note on Sunday, March 15th. Jefferies Financial Group restated a “hold” rating on shares of Edenred in a report on Wednesday, June 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Edenred currently has a consensus rating of “Hold”.

Edenred Trading Down 6.0%

The business has a 50-day moving average price of $12.50 and a two-hundred day moving average price of $11.29.

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.