Edenred (OTCMKTS:EDNMY) Reaches New 12-Month Low - Here's What Happened

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)'s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.08 and last traded at $13.60, with a volume of 526 shares trading hands. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EDNMY shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Edenred in a research report on Wednesday. Zacks Research downgraded Edenred from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Edenred Trading Down 2.2%

The business has a 50-day simple moving average of $15.07 and a 200-day simple moving average of $15.76.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.