EDENRED (OTCMKTS:EDNMY) Sees Strong Trading Volume - Here's Why

Key Points

• EDENRED experienced a significant increase in trading volume, with 22,800 shares traded, marking a 140% rise from the previous session.
• Analysts have mixed ratings on EDENRED, with Zacks Research downgrading the stock to a "hold" rating, while Morgan Stanley maintains an "overweight" rating.
• The company's price performance shows that its 50-day and 200-day simple moving averages are $14.92 and $15.70, respectively, indicating a downward trend from these averages.

Shares of EDENRED (OTCMKTS:EDNMY - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 22,800 shares changed hands during trading, an increase of 140% from the previous session's volume of 9,509 shares.The stock last traded at $13.12 and had previously closed at $13.06.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Sanford C. Bernstein downgraded EDENRED to a "market perform" rating in a research report on Monday. Morgan Stanley reissued an "overweight" rating on shares of EDENRED in a research report on Wednesday, September 3rd. Finally, Zacks Research lowered shares of EDENRED from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold".

EDENRED Trading Up 2.6%

The company has a fifty day moving average price of $14.61 and a two-hundred day moving average price of $15.60.

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.