EDENRED (OTCMKTS:EDNMY) Shares Gap Down - Time to Sell?

Key Points

• EDENRED shares experienced a significant gap down, opening at $11.88 after closing the previous day at $12.30.
• Analyst ratings for EDENRED have varied, with Sanford C. Bernstein and Zacks Research downgrading the stock to a "hold," while Morgan Stanley maintains an "overweight" rating.
• The stock has moving averages of $13.65 over 50 days and $15.02 over 200 days, indicating a downturn in performance relative to longer-term trends.

EDENRED (OTCMKTS:EDNMY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $12.30, but opened at $11.88. EDENRED shares last traded at $11.88, with a volume of 159 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EDNMY shares. Sanford C. Bernstein cut shares of EDENRED from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Morgan Stanley restated an "overweight" rating on shares of EDENRED in a research report on Wednesday, September 3rd. Finally, Zacks Research lowered EDENRED from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

EDENRED Price Performance

The stock has a 50 day simple moving average of $13.65 and a 200 day simple moving average of $15.02.

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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