EDENRED (OTCMKTS:EDNMY) Sees Unusually-High Trading Volume - What's Next?

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.

EDENRED (OTCMKTS:EDNMY - Get Free Report) shares saw an uptick in trading volume on Thursday . 22,800 shares traded hands during mid-day 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.

Wall Street Analyst Weigh In

A number of research firms recently commented on EDNMY. Zacks Research cut shares of EDENRED from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Morgan Stanley reiterated an "overweight" rating on shares of EDENRED in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold".

EDENRED Price Performance

The firm's fifty day simple moving average is $14.92 and its 200 day simple moving average is $15.70.

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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