Edenred (OTCMKTS:EDNMY) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up at the open from $11.39 to $12.00 and last traded at $12.00 on very light volume (295 shares).
• Analyst coverage is mixed with an average rating of Hold: one Strong Buy, one Buy, four Holds and one Sell, including Kepler's upgrade to Strong-Buy and Zacks' downgrade to Strong-Sell.
• The stock is trading above its 50‑day ($10.92) and 200‑day ($11.21) simple moving averages, indicating short- and medium-term strength.

Edenred (OTCMKTS:EDNMY - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $11.39, but opened at $12.00. Edenred shares last traded at $12.00, with a volume of 295 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on EDNMY. Kepler Capital Markets upgraded Edenred to a "strong-buy" rating in a research note on Sunday, March 15th. Zacks Research downgraded Edenred from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 8th. Citigroup reissued a "neutral" rating on shares of Edenred in a research note on Friday, April 24th. UBS Group lowered shares of Edenred from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Edenred in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Edenred currently has an average rating of "Hold".

Edenred Price Performance

The firm has a 50 day simple moving average of $10.92 and a 200-day simple moving average of $11.21.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company's core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.

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