Adyen (OTCMKTS:ADYEY) Hits New 52-Week Low – What’s Next?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.33 and last traded at $11.36, with a volume of 360756 shares changing hands. The stock had previously closed at $13.65.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADYEY. KeyCorp upgraded Adyen to a “strong-buy” rating in a research report on Friday, January 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Adyen in a research note on Wednesday, October 29th. Cantor Fitzgerald assumed coverage on shares of Adyen in a research report on Monday, January 26th. They set an “overweight” rating on the stock. Wells Fargo & Company initiated coverage on shares of Adyen in a report on Tuesday, October 21st. They issued an “overweight” rating for the company. Finally, Wolfe Research raised shares of Adyen from a “hold” rating to an “outperform” rating in a research note on Thursday, January 8th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, Adyen currently has a consensus rating of “Buy”.

Adyen Stock Down 20.0%

The business has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $16.24.

About Adyen

Adyen is a global payments technology company that provides an end-to-end platform for accepting and processing electronic payments across online, mobile and point-of-sale channels. Its core services include payment gateway and acquiring capabilities, fraud prevention and risk management, settlement and reconciliation, and tools for recurring and marketplace payments. The platform is designed to consolidate multiple payment functions into a single integration, enabling merchants to accept a wide range of local and international payment methods and currencies.

Founded in 2006 and headquartered in Amsterdam, Adyen was established by Pieter van der Does and Arnout Schuijff to simplify cross-border payments for international merchants.