EDENRED (OTCMKTS:EDNMY) Shares Gap Up - Here's Why

Key Points

• EDENRED's stock price gapped up significantly from a previous closing of $11.70 to open at $12.50 with a trading volume of 51,060 shares.
• Recent analyst ratings show a downgrade from a "strong-buy" to a "hold" rating by both Zacks Research and Sanford C. Bernstein, while Morgan Stanley maintained an "overweight" rating.
• The company's average stock rating is currently a "Hold" based on multiple analyst opinions.

EDENRED (OTCMKTS:EDNMY - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.70, but opened at $12.50. EDENRED shares last traded at $12.50, with a volume of 51,060 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EDNMY shares. Zacks Research downgraded EDENRED from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Morgan Stanley reiterated an "overweight" rating on shares of EDENRED in a research note on Wednesday, September 3rd. Finally, Sanford C. Bernstein downgraded EDENRED from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, EDENRED has an average rating of "Hold".

EDENRED Stock Up 3.3%

The firm has a fifty day moving average price of $14.30 and a 200 day moving average price of $15.43.

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.

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