Adyen (OTCMKTS:ADYEY) Sees Unusually-High Trading Volume – Here’s Why

Shares of Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw unusually-high trading volume on Wednesday . Approximately 2,393,289 shares changed hands during trading, an increase of 38% from the previous session’s volume of 1,732,374 shares.The stock last traded at $11.08 and had previously closed at $11.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADYEY. Morgan Stanley restated an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Wolfe Research upgraded shares of Adyen from a “hold” rating to an “outperform” rating in a report on Thursday, January 8th. Cantor Fitzgerald began coverage on shares of Adyen in a research report on Monday, January 26th. They set an “overweight” rating for the company. Finally, KeyCorp raised shares of Adyen to a “strong-buy” rating in a research report on Friday, January 23rd. Three analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Adyen Stock Performance

The company has a 50-day moving average of $14.48 and a 200-day moving average of $15.65.

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.