Edenred (OTCMKTS:EDNMY) Shares Gap Down - Should You Sell?

Key Points

• Edenred shares opened at $11.90, down from a previous close of $12.25, indicating a gap down before market opening.
• Analysts have recently downgraded Edenred's stock rating from "strong-buy" to "hold," with a current consensus rating of "Hold" from five analysts.
• The company's fifty-day simple moving average is $13.94, while the two-hundred-day simple moving average stands at $15.19.

Shares of Edenred (OTCMKTS:EDNMY - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $12.25, but opened at $11.90. Edenred shares last traded at $11.90, with a volume of 498 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of Edenred in a research note on Wednesday, September 3rd. Zacks Research downgraded shares of Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Sanford C. Bernstein downgraded shares of Edenred from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

Edenred Stock Down 0.4%

The company's fifty day simple moving average is $13.94 and its 200 day simple moving average is $15.19.

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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