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

Key Points

• Shares of Edenred gapped down, opening at $13.54 after closing the previous day at $13.96, with only 340 shares traded.
• Zacks Research downgraded Edenred's stock from a "strong-buy" to a "hold" rating, indicating a shift in analyst sentiment as it now has a consensus rating of "Hold."
• The company's 50-day moving average stands at $15.15 while the 200-day moving average is at $15.82, suggesting recent underperformance compared to these averages.

Edenred (OTCMKTS:EDNMY - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.96, but opened at $13.54. Edenred shares last traded at $13.54, with a volume of 340 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research cut Edenred from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Morgan Stanley reissued an "overweight" rating on shares of Edenred in a report on Wednesday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Edenred has an average rating of "Hold".

Edenred Trading Up 0.8%

The stock's 50-day simple moving average is $15.07 and its 200-day simple moving average is $15.76.

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.