EDENRED (OTCMKTS:EDNMY) Shares Gap Up - Should You Buy?

Key Points

• Edenred's share price opened at $12.50, up from a previous close of $11.95, with a volume of 200 shares traded.
• Analysts have mixed ratings for Edenred, with Zacks Research downgrading the stock to a "hold" and Morgan Stanley maintaining an "overweight" rating, resulting in a consensus rating of "hold."
• The company's 50-day moving average is $14.78 and its 200-day moving average is $15.66, indicating a significant gap between current trading levels and long-term averages.

Shares of EDENRED (OTCMKTS:EDNMY - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $11.95, but opened at $12.50. EDENRED shares last traded at $12.50, with a volume of 200 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EDNMY. Morgan Stanley reissued an "overweight" rating on shares of EDENRED in a research note on Wednesday, September 3rd. Zacks Research cut shares of EDENRED from a "strong-buy" rating to a "hold" rating in a research note 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. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, EDENRED presently has a consensus rating of "Hold".

EDENRED Price Performance

The stock's 50 day moving average is $14.38 and its two-hundred day moving average is $15.52.

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.