Edenred (OTCMKTS:EDNMY) Shares Gap Down – Here’s Why

Edenred (OTCMKTS:EDNMY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $11.30, but opened at $10.50. Edenred shares last traded at $10.50, with a volume of 800 shares.

Analysts Set New Price Targets

Several equities analysts have issued reports on EDNMY shares. UBS Group downgraded Edenred from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Zacks Research raised shares of Edenred from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Edenred Price Performance

The company has a 50-day moving average price of $10.77 and a 200-day moving average price of $11.77.

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.