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

Edenred (OTCMKTS:EDNMY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.50, but opened at $11.98. Edenred shares last traded at $12.20, with a volume of 760 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EDNMY shares. 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 raised shares of Edenred to a “strong-buy” rating in a report on Sunday, March 15th. Zacks Research cut shares of Edenred from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Edenred in a report on Friday, April 17th. Finally, Citigroup reissued a “neutral” rating on shares of Edenred in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Edenred Stock Performance

The business’s 50-day simple moving average is $11.27 and its 200 day simple moving average is $11.07.

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.