Edenred (OTCMKTS:EDNMY) Hits New 52-Week Low - What's Next?

Key Points

• Edenred's stock has reached a new 52-week low, trading as low as $13.08 and closing at $13.60, reflecting a significant decrease from its previous price.
• Despite the recent downturn, Wall Street analysts maintain an average rating of "Hold," with some analysts issuing an "overweight" rating while others have downgraded it from "strong-buy" to "hold."
• The company's offerings include various employee benefit solutions such as meal vouchers and gift cards, aimed at enhancing the services and payment experiences for companies, employees, and merchants.

Edenred (OTCMKTS:EDNMY - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $13.08 and last traded at $13.60, with a volume of 526 shares changing hands. The stock had previously closed at $13.90.

Wall Street Analyst Weigh In

EDNMY has been the subject of a number of recent research reports. Zacks Research downgraded Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Morgan Stanley restated an "overweight" rating on shares of Edenred in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Edenred currently has a consensus rating of "Hold".

Edenred Trading Down 9.5%

The stock has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $15.67.

Edenred Company Profile

Edenred SE provides digital platform for services and payments for companies, employees, and merchants worldwide. It offers employee benefit solutions, including Ticket Restaurant, a solution that allows employees to take time out for lunch at a partner merchant; Ticket Alimentación that allows users to pay for groceries in neighborhood stores and supermarkets; Ticket Regalo, a gift voucher; Ticket CESU, a human services solution; Ticket Plus Card, a solution that enables the purchase of staples, such as food and fuel; Ticket Welfare, which employees can use to pay for a range of services, such as access to sports facilities and solutions for their children's educational needs; Ticket Guardería for companies without on-site daycare facilities; Childcare Vouchers; Ticket EcoCheque, a solutions that encourages purchase of environmentally friendly products; Ticket Kadeos Culture and Ticket Cultura that are solutions for cultural goods and services.