Edenred (OTCMKTS:EDNMY) Reaches New 52-Week Low - Here's Why

Key Points

• Edenred shares fell to a new 52-week low of $9.50 on Thursday, trading down about 20.4% from the prior close of $10.80 on light volume (204 shares).
• Analyst sentiment is mixed with a MarketBeat consensus of Moderate Buy (1 Strong Buy, 1 Buy, 4 Hold); recent moves include UBS downgrading to Hold and Kepler upgrading to Strong Buy.
• Edenred is a global leader in prepaid corporate services operating under the Ticket Restaurant brand, offering meal vouchers, employee benefits and incentive/reward programs.

Shares of Edenred (OTCMKTS:EDNMY - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $9.50 and last traded at $9.50, with a volume of 204 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

EDNMY has been the topic of several recent analyst reports. UBS Group lowered shares of Edenred from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 23rd. Zacks Research upgraded Edenred from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. Finally, Kepler Capital Markets upgraded Edenred to a "strong-buy" rating in a research report on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Edenred Trading Down 20.4%

The business's 50-day simple moving average is $10.66 and its 200-day simple moving average is $11.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.