Edenred (OTCMKTS:EDNMY) Sees Large Volume Increase - Time to Buy?

Key Points

• Edenred's shares experienced a significant trading volume increase of 175%, with 29,586 shares traded on the last session, rising from 10,764 shares in the previous session.
• Analysts have recently downgraded Edenred's stock rating, with Zacks Research and Sanford C. Bernstein both changing their ratings from "strong-buy" to "hold".
• The stock currently has a trading price of $12.85, while its 50-day moving average stands at $13.75 and the 200-day moving average at $15.11.

Shares of Edenred (OTCMKTS:EDNMY - Get Free Report) saw an uptick in trading volume on Friday . 29,586 shares traded hands during trading, an increase of 175% from the previous session's volume of 10,764 shares.The stock last traded at $12.85 and had previously closed at $12.50.

Analysts Set New Price Targets

A number of research firms have issued reports on EDNMY. Zacks Research cut shares of Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Sanford C. Bernstein cut shares of Edenred from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, 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 four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

Edenred Price Performance

The company's 50-day moving average is $13.75 and its 200-day moving average is $15.11.

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.

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