Adyen (OTCMKTS:ADYEY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw strong trading volume on Monday . Approximately 3,840,120 shares changed hands during trading, an increase of 116% from the previous session’s volume of 1,778,255 shares.The stock last traded at $9.88 and had previously closed at $9.60.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADYEY shares. Monness Crespi & Hardt reiterated a “buy” rating on shares of Adyen in a report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating on shares of Adyen in a report on Monday, May 4th. BNP Paribas Exane cut shares of Adyen to a “neutral” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adyen in a research report on Monday, April 27th. Finally, BMO Capital Markets started coverage on Adyen in a research note on Tuesday, April 21st. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Adyen has an average rating of “Buy”.

Adyen Stock Down 2.5%

The stock’s 50 day simple moving average is $10.28 and its two-hundred day simple moving average is $11.98.

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.