Edenred (OTCMKTS:EDNMY) Stock Price Up 11.9% - Here's What Happened

Key Points

• Shares of Edenred jumped 11.9% to $9.90 on Tuesday, but the move occurred on very light volume (~379 shares, a 98% decline from the average), suggesting the spike may be liquidity-driven rather than broad buying.
• Analyst sentiment is mixed-to-cautious with an average rating of “Moderate Buy” (one Strong Buy, one Buy, four Holds); notable recent changes include Kepler raising to strong-buy and UBS downgrading to hold.
• Technically the stock remains below its key moving averages, trading under the 50-day ($10.59) and 200-day ($11.34) averages despite the intraday rally.

Shares of Edenred (OTCMKTS:EDNMY - Get Free Report) rose 11.9% during trading on Tuesday . The stock traded as high as $9.90 and last traded at $9.90. Approximately 379 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 24,767 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

EDNMY has been the subject of several research reports. Kepler Capital Markets raised shares of Edenred to a "strong-buy" rating in a research report on Sunday, March 15th. UBS Group downgraded shares of Edenred from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Zacks Research upgraded Edenred from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Edenred has an average rating of "Moderate Buy".

Edenred Stock Up 9.6%

The stock's 50 day moving average is $10.59 and its two-hundred day moving average is $11.34.

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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