Edenred (OTCMKTS:EDNMY) Shares Down 5.5% - Here's What Happened

Key Points

• Edenred's stock saw a significant drop of 5.5%, closing at $12.10 after trading as low as that price during Monday's session.
• Analysts from Sanford C. Bernstein and Zacks Research downgraded Edenred from a "strong-buy" to a "hold" rating, establishing an average rating of "Hold" among analysts.
• The company specializes in digital platforms for employee benefits and services worldwide, offering various solutions such as meal vouchers and wellness programs.

Edenred (OTCMKTS:EDNMY - Get Free Report)'s stock price fell 5.5% during trading on Monday . The stock traded as low as $12.10 and last traded at $12.10. 5,838 shares traded hands during trading, a decline of 47% from the average session volume of 11,006 shares. The stock had previously closed at $12.80.

Analyst Ratings Changes

Several brokerages recently commented on EDNMY. Sanford C. Bernstein cut shares of Edenred from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Zacks Research cut shares of Edenred from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Morgan Stanley reaffirmed 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 four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

Edenred Stock Down 3.9%

The stock's 50 day simple moving average is $13.70 and its 200 day simple moving average is $15.04.

About Edenred

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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